The U.S. Postal Service is seeking a rate increase this summer that includes hiking the cost of a first-class stamp from 73 cents to 78 cents.
The request was made Wednesday to the Postal Regulatory Commission, which must OK the proposal. If approved, the 5-cent increase for a “forever” stamp and similar increases for postcards, metered letters and international mail would take effect July 13.
The proposed changes would raise mailing services product prices approximately 7.4%.
The Postal Service contends, as it did last year when it enacted a similar increase, that it’s needed to achieve financial stability.
Former U.S. Postmaster General Louis DeJoy previously warned postal customers to get used to “uncomfortable” rate hikes as the Postal Service seeks to become self-sufficient.
He said price increases were overdue after “at least 10 years of a defective pricing model.”
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Author: Faith Novak
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