The delivery service says the increases are necessary for its operations
of ConsumerAffairs
The U.S. Postal Service (USPS) will not raise stamp prices in January. Thats the good news.
The bad news is stamp prices may increase five times over the next two years. USPS revealed its plans in a filing with its regulatory agency, the U.S. Postal Regulatory Commission.
While USPS would not increase the present 73 cents price of a first class stamp in January, the delivery service would seek increases in July 2025, January and July 2026, and January and July 2027.
The Postal Service intends in all cases to be judicious in the use of available pricing authority, but it anticipates that the changes for Market Dominant classes may apply most or all pricing authority available on the date of filing, given our legal obligation to be financially self-sufficient, our progress under the Delivering for America Plan and its fundamental goals of providing excellent service while still achieving financial sustainability, and our current and anticipated financial condition, the filing stated.
Increases would be subject to approval
The rate increases would be subject to approval by the U.S. Postal Regulatory Commission Governors.
The last price increase for a First Class Stamp occurred in July, when the cost to mailers rose from 68 to 73 cents.
The Post Office was once a federal agency operated with taxpayer money. In the early 1970s, it was made a public company but still under the federal umbrella. It was tasked with operating on the money it took in from mail services, something it has struggled to do.
According to the Government Accountability Office (GAO), USPS is beset by inflation, declining mail volume and competition from other delivery companies.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-09-27 15:05:04
