UPS Raising Shipping Rates By 4.9 Percent

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PHILADELPHIA (CBS) — You may not want to wait to ship your holiday packages this year, especially if you're shipping with UPS.

The company is raising rates on ground and air shipments just in time for procrastinators.

UPS says a 4.9 percent rate hike goes into effect December 24th.

The shipping company says new rates will help pay for expansion and service improvements.