If you were expecting a big 2023 general rate increase from FedEx like we were, you will not be disappointed. FedEx announced its largest ever GRI of 6.9% effective January 2, 2023.
This is a historic increase because it’s the largest on record. Many of the details fall in line with our predictions, including FedEx’s new Ground Minimum of $10.10 as compared to our $10.11 projection. We also predicted new surcharges, and on cue FedEx has created a new remote surcharge for out-of-reach zip codes both domestically and internationally.
A main driver behind this 6.9% GRI is inflation, not surprisingly. FedEx has also been in the news lately with concerns over sluggish shipping volumes and profitability. The chart below shows the rate of inflation compared to the Ground average increase from FedEx going back to 2010.
Rest assured, the parcel experts at TransImpact are already breaking down and modelling the details of the entire GRI to help shippers like you understand its full impact. To receive our complete report and a no-obligation analysis of how the GRI will increase your small parcel shipping costs contact email@example.com immediately.