US Postal Ser­vice pro­poses big­gest price hike since 1991

USA TODAY US Edition - - MONEY - Ash­ley May

The U.S. Postal Ser­vice is seek­ing to in­crease the price of its first-class mail “for­ever” stamp in the big­gest price hike since 1991.

The USPS board of gov­er­nors re­quested a 5 cent in­crease to the “for­ever” stamp, up to 55 cents. Be­fore re­cal­cu­lat­ing the cost of send­ing those wedding in­vi­ta­tions, USPS said the change would also re­duce the ad­di­tional ounce price of let­ters. So, a 2-ounce stamped let­ter would de­crease from 71 cents to 70 cents, ac­cord­ing to a state­ment.

Pri­or­ity Mail flat rate prices could also in­crease by an aver­age of 5.9 per­cent. For ex­am­ple, a medium flat rate box that now goes for $13.65 would in­crease to $14.35.

The Postal Reg­u­la­tory Com­mis­sion must ap­prove the changes be­fore they could go into ef­fect.

The new price plan comes at a time when USPS is strug­gling with sales, as mail has been re­placed with elec­tronic com­mu­ni­ca­tion. While the ser­vice has been han­dling more pack­age de­liv­ery, the loss in mail de­liv­ery has been more dra­matic – and mail is the ser­vice’s main source of rev­enue, Post­mas­ter Gen­eral and CEO Me­gan Bren­nan said ear­lier this year of the fi­nan­cial loss.

AP

The U.S. Postal Ser­vice wants to in­crease the price of its first-class mail “for­ever” stamp by 5 cents.

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