The U.S. Postal Service (USPS) has filed notice with the Postal Regulatory Commission for price increases to take effect on July 10.
If approved, the postal rates will include a two-cent increase in the price of a first-class mail from 58 cents to 60 cents, a four-cent increase on one-ounce metered letters from 53 cents to 57 cents, a four-cent increase on additional letter ounces from 20 cents to 24 cents, and a four-cent increase on domestic postcards from 40 cents to 44 cents.
In a press statement, the USPS pointed out that the proposed price increases were approximately 6.5%, which is said was “lower than the Bureau of Labor Statistics annual inflation rate of 7.9% as of the end of February.”
The USPS added it was also seeking price adjustments for Special Services products including certified mail, post office box rental fees, money order fees and the cost to purchase insurance when mailing an item.
“As inflation and increased operating expenses continue, these price adjustments will help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next 10 years,” the USPS added. “With the new prices, the Postal Service will continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping.”
Photo: Day of the Dead stamp, courtesy of the USPS
