FedEx to raise freight prices by 5.9 percent

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.