FedEx to Raise Shipping Rates by 6.9% as It Combats Slowdown

FedEx said it plans to raise shipping rates by an average of 6.9% across most of its services starting in January as the delivery giant copes with a global slowdown in business. 

The rate increase is higher than previous years and comes days after the company slashed its profit and sales forecasts. FedEx and rival United Parcel Services Inc. raised shipping rates by an average of 5.9% for 2022—the first time in eight years that either had strayed above 4.9%.