While both FedEx and UPS announced an average General Rate Increase of 6.9% for 2023, there are some differences in the increases shippers will be paying on a service-level basis.
Below you’ll find excerpts from our recently published GRI reports that detail what changes shippers can expect from Domestic Express Services.
You can read our full reports on each carrier’s GRI with tips on what you can do to mitigate the 2023 increases here:
Breaking Down the 2023 UPS GRI – Is This What Better and Bolder” Looks Like?
Brace Yourself: FedEx Comes Strong at Shippers with Its 2023 General Rate Increase
So, how much are UPS and FedEx increasing rates for their Domestic Express Services?
UPS Domestic Express Services
The following illustration details the yearly increase percentage by service since 2021. This year’s increases are the highest across each service level, with 3 Day, for the second year in a row, at about 10%. In 2023, the increases take the form of a flat amount for the given service level at every weight from 1 to 99 lbs.
FedEx Domestic Express Services
The following illustration shows the annual increase from 2020 to 2023 by service level for packages up to 99 lbs. Notable is that in 2023 every service except 2 Day AM will experience its highest-ever increase and collectively rise 7.99%. 2 Day will see the largest individual YoY jump, increasing 7.9% compared to 4.9% last year.
Contact TransImpact (info@transimpact.com) to receive a no-obligation report detailing how much your costs will go up starting December 27, 2022, under the 2023 UPS and FedEx GRIs (along with all the other fees and surcharges in place right now).