FedEx just increased its shipping rates by 4.9% across the board

FedEx just increased its shipping rates by 4.9%.

In an announcement on Tuesday night, the shipping giant said that effective January 4, 2016, it will increase shipping rates by an average of 4.9% across all of its products.

And since right now all markets can think about is the Federal Reserve and its dual goals of maximum employment and price stability, the quick reaction to the news was that this is a sign inflation is perking up.

The Fed's preferred measure of inflation, "core" PCE, is currently running at around 1.2% per year, well below its 2% target.

So, then, maybe, the FedEx news is the kind of anecdotal indicator the market needs to be convinced inflation is coming. (Inflation expectations paint an even more dismal picture for the Fed meeting its goal.)

However!

FedEx raised its shipping rates by the same amount last year.

Carry on.