FedEx is increasing shipping prices in January by an average of 6.9% for FedEx Ground, FedEx Express and FedEx Home Delivery.

You may want to take advantage of the last few months of current shipping rates for FedEx, as the company has just announced plans to raise shipping prices significantly. Starting in January, FedEx plans to officially increase shipping prices by an average of 6.9% for its popular FedEx Ground, FedEx Express and FedEx Home Delivery services, according to reports.

FedEx starts 2023 with a big boost Shipping rates, a move that is sure to anger longtime customers. FedEx says it will raise prices for all its consumer delivery services by an average of 6.9% starting Jan. 2, 2023, while FedEx shipping rates will increase from 6.9% to 7.9%, @NBCNews reports find That’s not the only increase customers should be aware of, as the late payment fee for all US FedEx Express and FedEx Ground invoices not paid according to pre-approved payment terms will also increase by 8%. This is the latest rate increase for the company, as rates have increased by an average of 5.9% in the past year alone.

If you’re wondering why the shipping giant is raising prices in such a short amount of time, it’s because of the company’s inability to meet recent revenue expectations, which has led to significant cost-cutting measures across the company. Earlier this month, FedEx CEO Raj Subramaniam said in an interview that the company’s current state is a direct reflection of the state of the U.S. economy, saying that the company is a “reflection of other people’s business” and that he expects “all over the world.” Recession”.

In a message to customers on its website, FedEx explained the shipping increase, “We regularly evaluate our shipping rates and fees and adjust them as needed. This allows us to continue to invest in our business so that we can continue to provide the transportation solutions you need and the excellent service you have come to expect from us.”

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