Canadian Freight Rail Services Prices Surge in Q4 2023

The Freight Rail Services Price Index in Canada experienced a notable upswing in the fourth quarter of 2023, registering a 6.9% increase from Q3 2023 to Q4 2023. The overall index, based on the 2018=100 reference, rose to 130.9. Among specific commodities, the Metals and Minerals category showed the most substantial surge, recording a remarkable 10.9% increase, reaching an index of 140.5. The Petroleum and Chemicals sector also saw a substantial rise, with an 11.0% increase. This data, released by Statistics Canada, suggests robust activity and potential impacts on various industries reliant on freight rail services.