FedEx announces higher shipping rates for 2023

Fedex has announced a shipping rate hike for 2023.

CNN—Fedex has announced a shipping rate hike for 2023.

The company will raise ground and express shipping rates by an average of 6.9% next year and freight rates will increase by an average of 6.9 to 7.9%.

Shares of the company dropped by 21% last Friday which is the biggest one day drop in company history.

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