FedEx Corp. (NYSE: FDX) said Thursday it will raise shipping rates for its Ground and Home Delivery units by an average of 4.9 percent in 2010, 1 percentage point less than this year's rate hike, according to Associated Press.
FedEx announced in September it will increase shipping rates for Express packages shipped within or from the U.S. by an average of 5.9 percent in 2010, also 1 percentage point lower than FedEx's rate increase this year. That rate is partially offset by a lower fuel surcharge.
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The company, based in Memphis, Tenn., said Thursday that SmartPost rates also will change, but didn't specify how. SmartPost is FedEx's partnership with the U.S. Postal Service.
All of the rate increases will go into effect on Jan. 4.
FedEx's larger rival UPS Inc. (NYSE: UPS) also is hiking 2010 ground rates by an average of 4.9 percent. The base rate increase for air express and international shipments is 6.9 percent, also offset by a lower fuel surcharge.
Both package delivery companies' rate increases are standard and usually announced in the fall.
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