U.S. Postal Service to Increase Postage Prices amid BidenflationNick Gilbertson 7 Apr 2022
The United States Postal Service (USPS) announced Wednesday that it aims to raise postage prices by July 10 and has filed a notice of the desired changes with the Postal Regulatory Commission (PRC).
The Forever stamp will move from 58 cents to 60 cents, marking what would be its second price hike in a year, CBS noted. In August, it moved from 55 cents to 58 cents. Between August of last year and this upcoming July, the stamp’s cost would have gone up nine percent, or five cents, should the prices take effect. But the Forever stamp is not the only postage increase that could come this summer, according to the USPS:
If favorably reviewed by the PRC, the single-piece letter additional ounce price would increase to 24 cents, the metered mail 1-ounce price would increase to 57 cents and the price of a postcard stamp would increase to 44 cents. A one-ounce letter mailed to other countries would increase to $1.40 cents. The Postal Service is 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.
Product Current Prices Planned Prices
Letters (1 oz.) 58 cents 60 cents
Letters (metered 1 oz.) 53 cents 57 cents
Letters additional ounce(s) 20 cents 24 cents
Domestic Postcards 40 cents 44 cents
International Letter (1 oz.) $1.30 cents $1.40 cents
In its release Wednesday, the USPS said the desired price hikes are a 6.5 percent increase, “which is lower than the Bureau of Labor Statistics annual inflation rate of 7.9 percent as of the end of February.”
Lexington Institute Fellow Paul Steidler told CBS News that the PRC simply offers advisories, meaning the agency can implement the rate changes regardless of what the commission says.
more
https://www.breitbart.com/economy/2022/04/07/u-s-postal-service-increase-postage-prices-bidenflation/
