Two-cent price hike to accommodate inflation would occur in January.
The United States Postal Service (USPS) has proposed a two-cent price increase for first-class mail stamps, increasing their price from 66 cents to 68 cents.
The USPS said, “As inflationary pressures on operating expenses continue and the effects of a previously defective pricing model are still being felt, these price adjustments are needed to provide the Postal Service with much-needed revenue.”
First-class mail makes the most revenue of any mail class, accounting for 31 percent of Postal Service revenue. The agency estimates that this two-cent stamp hike would raise the price of most mailing services by about 2 percent. The proposal must be approved by the Postal Regulatory Commission before the change becomes finalized.
As the Lord Leads, Pray with Us…
- For Postmaster General DeJoy to seek God’s discernment as he heads USPS.
- For Chairman Kubayanda as he leads the Postal Regulatory Commission.
- For the president and members of his administration as they assess the status of inflation.
Sources: Reuters, Axios
