FedEx Corp., the world's No. 2 package delivery company, said it would increase shipping rates for its express, ground and freight services, effective Jan. 5.

The rate change applies to FedEx freight shipments within the United States, Canada and Mexico as well as between the U.S. and Canada and between the U.S. and Mexico, FedEx said.

The company had raised its shipping rates in the freight business by 3.9 percent, effective March 31.

FedEx is expected to report first-quarter results on Wednesday.

Rival United Parcel Service Inc. raised shipping rates on its freight unit by 4.4 percent in March.