FedEx increasing ground shipping rates

  FedEx Corp. said Friday it will increase its ground shipping rates by an average of 4.9 percent starting in January, The Associated Press reported. FedEx announced last month that it planned to raise its air shipping rates by the same amount, the AP said. The actual price increase for FedEx Ground and FedEx Home Delivery service will be an average of 6.9 percent, but it is offset by a 2 percent reduction in the company’s fuel surcharge. FedEx Ground is a Pittsburgh-based subsidiary of Memphis-based FedEx Corp. The company recently reduced its quarterly and yearly earnings outlook amid concerns over higher fuel costs and slumping market for shipping.

-- Scott

(AP photo)