As is typically the pattern following peak season, air freight rates dropped in January, but by a much smaller margin than expected, according to UK-based freight market analyst Drewry. Average rates fell just US$0.13 to $3.01 per kg, and were significantly higher than in January 2016, when rates were $2.69. The drop between December and January is usually more pronounced. Drewry’s East-West Airfreight Price Index now stands at 92.6 (based on a value of 100 for May 2012). Drewry expects another modest drop in February.