Afternoon Coffee: Consumer Goods Price Drops, FedEx Will Increase Shipping Rates

Cup Filled With Coffee Beans

The price of consumer goods dropped in August 0.1%, marking the first decline since January. Lower gasoline prices during the summer attributed to the drop in the consumer price index.

FedEx announced an increase in its shipping rates by an average of 4.9% would take effect Jan. 4, 2016. The shipping company raised its rates in 2015 by the same amount.

The CEO economic outlook index fell to 74.1 during the third quarter, a drop of 7.2 points from the previous 3-month period. The index shows executives at US companies plan to cut back on spending and hiring plans.

FedEx and other shipping firms are also likely to face a shortage of workers this holiday season. Retailers and logistics companies are reportedly already having trouble finding workers for their warehouses and fulfillment centers – jobs that need to be filled to respond to holiday season demands.


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