If approved, the proposed price changes will go into effect on July 12
Credit: Justin Sullivan/Getty
NEED TO KNOW
- The Postal Service is looking to raise the cost of first-class postage stamps again
- If approved, the new proposed price changes will go into effect on July 12
- “In the midst of the severe financial crisis facing the Postal Service and continued rising operational costs, the Postal Service is using all available tools…to ensure we can continue to fulfill our universal service obligation and serve the American public,” the agency said in a statement
You may want to stock up on Forever stamps now.
The U.S. Postal Service is looking to raise the cost of a first-class stamp again, just one year after the agency instituted its last postage price hike.
In a Thursday, April 9, news release, the Postal Service said it had submitted notice with the Postal Regulatory Commission (PRC) of mailing services price changes. If approved, the changes will take effect on July 12.
Among the proposed changes is the price of a first-class stamp, which would increase from 78 cents to 82 cents.
Other products that would see increased prices include postage for domestic postcards (from 61 cents to 65 cents); international postcards (from $1.70 to $1.75); and international letters (from $1.70 to $1.75). Additionally, the agency is seeking price changes for first-class mail products, periodicals, marketing mail and package services.
The agency noted, however, that the additional-ounce price for single-piece letters will remain at 29 cents.
“In the midst of the severe financial crisis facing the Postal Service and continued rising operational costs, the Postal Service is using all available tools, including available regulatory pricing authority, to ensure we can continue to fulfill our universal service obligation and serve the American public,” the agency said of the new proposed rates in its news release.
“The Postal Service generally receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations,” the statement continued. “Notwithstanding the adjustment, the Postal Service's mailing prices remain among the most affordable in the world.”
Last year, on July 13, the cost of a Forever stamp went from 73 cents to its present 78 cents. Forty years ago, the same stamp cost only 22 cents.
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The agency said the PRC will review the proposed price changes before they would go into effect on July 12.
The proposed price change came shortly after USPS and Amazon reached an agreement that will cut the online retailing giant's postal deliveries by 20 percent.
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