US Postal Service Rate Increases Takes Effect Today – IOTW Report

US Postal Service Rate Increases Takes Effect Today

Sunday, 10 July 2022, 19:00 MJA Uncategorized 15

FOX:

The next time you mail through the United States Postal Service (USPS), it’s going to cost you extra. 

The USPS’ rate hike, upping First-Class Mail prices by 6.5%, took effect Sunday, according to the agency. When the USPS made its announcement in April it noted that the 6.5% increase would still be below inflation, which is sitting at a rate of 8.6%. 

However, this likely won’t be the last increase from the USPS.

In May, Postmaster General Louis DeJoy said Americans should get used to “uncomfortable” postage rate increases in coming years as the U.S. Postal Service seeks to become self-sufficient. 

The Postal Service Board of Governors sets postage rates, but DeJoy said he’ll advocate for raising prices until “we have accomplished our objective of projecting a trajectory that shows us being self-sustaining.”

That objective is laid out in the USPS’ 10-year plan, Delivering for America. As part of this plan, the USPS is working to break even by the fiscal year 2023 and avoid $160 billion in projected losses over the next 10 years. 

The price adjustments taking effect Sunday “will help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next ten years,” according to the USPS.  more

15 Comments on US Postal Service Rate Increases Takes Effect Today

  6. Since there is nothing we can do about this disaster and the federal government is neutered, I’ve decided to laugh and enjoy the long ride to the bottom.

    Squeal like a pig! Weeeee! Weeeeeeeee!

    3

  7. but still, they are 1/2 to 1/3 to send a package compared to UPS and certainly FED-EX…….no one uses mail like we did even 10 years ago so they are about as financially viable as Kodak Film or a brand new Pager…….it’s the classic can’t afford to live with them and can’t live without them either…..

    2

  12. The mail carriers are never asked for input on the infrastructure or vehicle changes.
    The bureaucrats who have never actually worked in the post office decide.
    More wasted $

    1

  14. Canada is like this. When Canada Post threatened to go on strike in 2015, anyone still using the mails, stopped. The company where I worked already issued invoices via e-mail. The company issued instructions to all of our customers to pay via wire transfers into our account. Numerous other companies did the same. For myself and personal mail, I had already switched to receiving invoices from the utilities via e-mail and was already paying by transfer payments. The only mail I now receive is “junk (direct marketing) and some Christmas cards.

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