The United States Postal Service is seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents to offset the rise in inflation. If approved, it would take effect July 9.
April 11, 2023, 6:40 PM UTCThe United States Postal Service on Monday said it was seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents.
The price changes have been approved by USPS board of governors. The plan seeks to raise overall first-class mail prices by 5.4%.USPS revenue for first-class mail has been increasing as price hikes have offset lower volumes. USPS said in February revenue for the final three months of 2022 was $21.5 billion, up $206 million, or 1%, on a volume decline of 1.7 billion pieces, or 4.8%. USPS reported a net loss for the quarter of $1 billion.
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