Fedex to raise shipping rates in 2023

CNN--

By 2023 you will be paying higher prices to ship items through Fedex. Thursday, the shipping company announced it expects to raise rates on ground and express shipping next year.

Customers can expect to see a 6.9% hike in express shipping. Freight shipping will go up 7.9%.

The company warned demand for package deliveries around the world could tumble. Fedex also said that it expects to fall $500 millions short pf its revenue target because of the slowing global economy.