UPS Price Increase, Others to Follow?
November 3, 2021 • 1 minute read
Subscribe to access the latest trends and insights in the logistics industry.
On December 26, 2021, UPS’s general rate increase will take effect. The announcement was made last week following the company’s third quarter earnings call. According to the statement, the rate hike will help with the “ongoing expansion and capability enhancements as we strive to maintain the high service levels you expect from UPS.”
The general rate increase will include the following:
- Increase of an average of 5.9% for UPS Ground, UPS Air, and International Services
- Increase of an average of 5.2% for UPS Air Freight in the United States, Canada, and Puerto Rico
UPS CFO Brian Newman says “demand for our services remained high and the pricing environment in the industry was firm … We expect similar dynamics in the fourth quarter.” With the current “peak” demand for shipping services, UPS price increase could lead to increased rates for other shipping companies as well.
For more daily updates, subscribe to GoFreight’s Facebook and LinkedIn or sign up to our Newsletter. As the leading logistics software in a rapidly transforming digital industry, GoFreight helps your business increase revenue and enhance workflow. Book a free demo today!
Get the latest from GoFreight!
News, stories and ideas from GoFreight.