FedEx to raise freight prices by 5.9 percent

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NEW YORK (AP) — FedEx says it will raise prices at its freight and national trucking unit by 5.9 percent on Feb. 1.

These rate increases apply to the company’s less-than-truckload shipments, where a number of smaller loads from a variety of shippers are consolidated on a single truck for final delivery.

FedEx, based in Memphis, Tenn., raised shipping prices at its other units by a similar amount.

Both FedEx Corp. and chief rival UPS Inc. usually announce these standard rate increases annually.