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FedEx to Raise Shipping Rates in January
FedEx announced that it will increase shipping rates after the holidays for both parcel and freight shipments as higher transportation costs and tight capacity have put pressure on delivery providers.
FedEx is raising freight rates by an average of 5.9% for both domestic and cross-border services.
FedEx is raising parcel rates by an average of 4.9% for most domestic services. This includes FedEx Express, FedEx Ground, and FedEx Home Delivery.
UPS is expected to match the increases announced by FedEx. Likewise, competing LTL carriers are expected to announce rate increases in the range of 4.9% to 7.1% that will take effect during the first quarter of 2019.
Our procurement experts are forecasting LTL rates to rise by 4% to 6% in 2019.
Click here to see the full forecast