USPS Stamps Price Hike – To increase the revenue, United States Postal Service is looking to increase the price of mailing and shipping services.
The USPS Board of Governors filed a notice with the Postal Regulatory Commission to raise the price of some mailing service products. According to a release of USPS, if the notice approved, the price of mailing service would increase by 2.5%. Priority Mail would increase 5.9 percent and Priority Mail Express prices would increase by3.9 percent.
The price of the stamp would be increased from 50cents to 55 cents. A 5 cents increase will be a record hike for the postage stamp since 1863. If proposed changes are approved by the PRC, the price hikes will take effect Jan. 27, 2019. Related – How Much Do Stamps Cost?
The United Stamps Postal Service said in the release that although mailing service price increases are usually based on the Consumer Price Index, shipping service prices are “primarily adjusted according to market conditions.”
It also added, “The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue.”
According to the report, the US postal service is struggling to get the much-needed revenue. The new proposed rates if approved will help the USPS competitive while providing the agency with needed revenue.
Read Full Report – HERE