Postal service

US Postal Service plans to raise first-class mail prices | Local company

WASHINGTON — The United States Postal Service filed a price change notice with the Postal Regulatory Commission on Wednesday that includes a two-cent increase in the price of a first-class mail stamp forever from 58 cents to 60 cents. cents.

The proposed price hike comes ahead of President Joe Biden’s announcement of roughly $50 billion in financial relief over a decade to the USPS. Read the full story

The proposal would raise prices for first-class mail, an affordable way to send envelopes and light parcels, by around 6.5%, The USPS said.

If the price hike materializes, the price of an additional ounce of the one-piece letter would rise to 24 cents, the price of an ounce of metered mail would rise to 57 cents, and the price of a card stamp postage would increase to 44 cents. A one-ounce letter sent to other countries would drop to $1.40.

Forever stamps can be used to mail a one ounce letter no matter when the stamps are purchased or used and no matter how prices may change in the future.

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Struggling with declining mail volumes despite delivering to an increasing number of addresses, USPS has recorded net losses of more than $90 billion since 2007. In February, it recorded a quarterly net loss of 1.5 billion dollars.

The new prices, if they are reviewed favourably, will come into effect from July 10.