FedEx Express, Ground and Freight to adjust shipping rates on January 1, 2024

FedEx Express, FedEx Ground, and FedEx Freight, subsidiaries of FedEx Corp. (NYSE: FDX), will adjust shipping rates on January 1, 2024, the company announced. “FedEx Express shipping rates will increase by an average of 5.9% for U.S. domestic, U.S. export, and U.S. import services. FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 5.9%. FedEx Ground Economy shipping rates will also increase. FedEx Freight shipping rates will increase by an average of 5.9%-6.9% dependent on the customer’s transportation rate scale. This change applies to shipments within the U.S. (including Alaska, Hawaii, Puerto Rico, and the U.S. Virgin Islands) and between the contiguous U.S. and Canada. The average annual rate increases are one percentage point lower than last year’s general rate increase. The price adjustments reflect incremental costs associated with the current operating environment, while enabling FedEx to continue investing in service enhancement, fleet maintenance, technology innovations, and other areas to serve customers more effectively and efficiently,” the company stated.