Talk about playing Scrooge.

In what will be a “bah humbug” for promo businesses and others, UPS will implement rate increases that average 6.9% for its ground and air delivery services two days after Christmas.

The heightened prices will be in effect for 2023. The rate increase essentially matches ones that UPS rival FedEx is also putting into play next year.

The upshot for promotional products companies – and others that rely on UPS and FedEx – is that shipping through the two big delivery providers will be more expensive in 2023.

FreightWaves noted that the general rate increases (GRI) are unprecedented for both UPS and FedEx.

GRI’s apply to noncontract shipments. “However,” FrieghtWaves noted, “the level of contract rate increases, and the discounts negotiated off of those increases, are generally pegged to actions that parcel carriers take with their GRIs. As a result, GRIs are a key barometer of the rates and discounts that shippers can expect to receive in their contracts.”

UPS and FedEx are also both hiking late payment fees to 8%. The United States Postal Service is also expected to soon announce rate increases for its competitive services, like Priority Mail. Some USPS rate increases for next year have already been revealed.

UPS and FedEx are currently charging customers temporary heightened rates to ship during what the companies consider the peak holiday shipping season. Those rates sunset with the conclusion of the holiday period in January.

According to a study from shipping platform Reveel, the average FedEx customer will see its peak holiday season-specific costs increase by 7% this year, but will pay 14% more for shipping this peak season than it did last year. The average UPS customer will see its peak holiday-specific costs increase by 5.3% this year, but will pay 10% more during this year’s peak season than it did last year.

Members of ASI, the parent company of ASI Media, can get discounts through a contracted shipping program with UPS.