ATLANTA (AP) — UPS says it is raising rates on U.S. ground and air shipments and international services by an average of 4.9 percent starting Dec. 24.
Air-freight rates within and between the U.S. mainland, Puerto Rico and Canada will increase by a similar amount.
The Atlanta-based company said Wednesday that the rate increases will help pay for continuing expansion and improvements.
United Parcel Service Co. earned $2.5 billion in the first six months of the year, up 6 percent from the same period last year on a 7 percent rise in revenue.
UPS shares fell $1.15 to close at $118.55. They have gained 3.4 percent this year compared with a 14.2 percent rise in the Standard & Poor’s 500 index.