Air cargo rates have decreased slightly week-over-week and are down 6% compared to the same time last year, according to the TAC Index.

Global air freight rates experienced a slight decline last week, with the Baltic Air Freight Index decreasing by 0.3% as of June 23, marking a 6% drop over the past year. This reduction occurred despite disruptions in the Middle East due to the Israel-Iran conflict and rising spot rates from China. Rates from Hong Kong increased by 0.4% week-over-week, while Shanghai saw a 2.7% drop. Rates from Europe remained stable, particularly on routes to the U.S., with Frankfurt's outbound routes rising by 5.7%, while North American rates were higher to Europe and China, despite Chicago's index falling by 4.6% year-over-year.