Contract rates increased 6.5 percent through November, while spot market rates rose a full 7.4 percent. Spot market rates rose at an uneven pace throughout the year, especially for vans. In the first quarter, van rates increased 14 percent over the year-earlier numbers but slowed to 7.5 percent in the second quarter. Rate growth further slowed to 2.6 percent in the third quarter before improving to a 6 percent gain in the fourth quarter.

Transcore predicts that rates will continue to rise in 2012, as carriers’ costs increase. Contributing factors include prices for fuel, insurance, labor, tires, and equipment. It expects rates to head up as soon as mid-March.