US freight costs are surging: The LMI transportation prices index rose +5.6 points in April, to 95.0, the highest since the April 2018 peak of 96.0 points and the 3rd-highest since the index was launched in 2016. The Logistics Managers' Index, or LMI, is a monthly survey of over 100 US supply chain executives that tracks the expansion or contraction of the US logistics industry across 8 key metrics, including inventory, warehousing, and transportation costs and capacity. A transportation prices reading above 50 indicates that freight costs are rising, while a reading below 50 indicates a decline. The LMI transportation prices index has surged +40.8 points, or +75%, since September 2025. The increase in freight costs comes at a time when inflation is already rising to a 3-year high. Inflationary pressures in transportation are intensifying.