FedEx Matches UPS's 4.9% Rate Hike
Every year, this time of year, America's parcel delivery heavyweights FedEx and UPS unveil their latest plans to raise the rates Americans pay for shipping.
Two weeks ago, UPS laid out its plans for near-across-the-board rate hikes of 4.9% on its delivery services, and yesterday, FedEx followed suit. In an announcement that went out just after market-close Thursday, FedEx confirmed that it will be matching UPS's 4.9% rate hike on shipments via FedEx Ground, FedEx Home Delivery, and also FedEx SmartPost, the service where FedEx uses its own facilities to move a package close to its intended recipient, then hands the packaged off to the U.S. Postal Service for "last mile" delivery.
FedEx had previously announced higher rates and surcharges for FedEx Express shipments. Those rates are going up by an average of 3.9% for U.S. domestic, U.S. export and U.S. import shipments.
All of these rate increases are slated to go into effect on Jan. 6, 2014.
The article FedEx Matches UPS's 4.9% Rate Hike originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends FedEx and United Parcel Service. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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