FedEx says it's raising prices for all of its consumer delivery services an average of 6.9% effective Jan. 2.
" last week that the company is a"reflection of everybody else's business" and that he expects a"worldwide recession." On an earnings call, Subramaniam also said inflation had hit the company"squarely" this year."We regularly evaluate our shipping rates and fees and adjust them when needed," the company
."This enables us to keep investing in our business so we can continue delivering the shipping solutions you need and the excellent service you’ve come to expect from us."The company is also increasing its late payment fee to 8% for U.S. FedEx Express and FedEx Ground invoices not paid according to approved payment terms.
While FedEx's main rival UPS has not yet announced a rate increase of its own, the two companies have historically increased rates in tandem.