Effective January 2024, leading global express services provider, DHL Express, will raise its average rate in the Philippines by 4.9 percent.

DHL Express also announced that a number of services and surcharges will also be increased.

"Overall, the global macroeconomic situation has started to stabilize although uncertainty remains. Through these turbulent times, we deliver stable and reliable services to all our customers globally," according to Nigel Lockett, country manager of DHL Express Philippines in a recent statement.

"With the annual price adjustment, we can continue to invest in improved solutions, increase flexibility across our network and focus on our responsibility to the environment to deliver resilient and sustainable logistic solutions," he added.

According to the logistics company, prices are adjusted on an annual basis taking into consideration inflation and currency dynamics as well as administrative costs related to regulatory and security measures.

National and international authorities regularly update these measures in the more than 220 countries and territories that DHL Express serves.

Depending on local conditions, price adjustments will vary from country to country.

The Philippine inflation in September 2023 increased to 6.1 percent, up from 5.3 percent in August, which brings the year-to-date inflation to 6.6 percent.

While as of 11 October, the Philippine peso was at P56.72 to a dollar, still on the brink of reaching P57, though the Bangko Sentral ng Pilipinas remained unfazed by the peso performance as the country has sufficient forex buffers to stabilize the currency.

DHL is the leading global brand in the logistics industry, which has divisions that offer an unrivaled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air, and ocean transport to industrial supply chain management.

With about 395,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows.