FedEx Says Expect Hike on Package Delivery Rates 2023

You can expect to pay more for FedEx deliveries next year. FedEx warned as demand for package deliveries around the world tumble, a global recession could be coming. The weakening global economy has hurt the company’s express delivery business. Demand for packages drastically weakened in the final weeks of the quarter. In response, FedEx will be reducing flights by temporarily parking aircraft, trimming staff hours, delaying some hiring plans and closing 90 FedEx office locations. The shipping company will raise ground express rates by an average of 6.9% next year. As well as freight rates by an average of 6.9% to 7.9%.