United Parcel Service () announced rate hikes Thursday on ground and air shipments. The rates come into effect Feb. 5. Rates for UPS ground shipments will jump 3.1% for all weights and zones. Air shipments for next-day, second-day and third-day categories will all rise by 3.7%. Rates on U.S.-origin shipments being exported to other countries will go up 2.9%.The residential-delivery surcharge will increase from its current $1 per package to $1.05 per package. The temporary fuel surcharge of 1.25% will continue, the company said.
On Wednesday, UPS rival FedEx Corp. () announced an average 4.9% rate hike on U.S. air delivery shipments effective Feb. 1, and also boosted its export rate 2.9%.
