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US Postal Service Raising Rates
Rate increases will impact stamps and priority mail; new global stamp is being introduced.
The U.S. Postal Service is raising the cost of a first-class stamp to 46 cents and priority mail an average of four percent, effective Jan. 27, according to the Associated Press.
The USPS also announced a new global "forever" stamp, which will allow customers to mail first-class letters anywhere in the world for $1.10.
Currently, it costs 85 cents to send a first-class letter to Mexico and Canada, and $1.05 to send first-class mail to other international destinations.
The postal service, which is facing a loss of $15 billion this year, is only permitted to raise prices by the rate of inflation, which is 2.6 percent, according to the article. The USPS asked Congress to give permission to raise prices by 5 cents, but lawmakers have not done so yet.
According to Business Journal, the postal service began announcing plans to consolidate mail sorting facilities in August to help minimize losses. To save roughly $1.2 million in losses, 229 facilities will close in the next two years.
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Steven Long
3:02 pm on Friday, October 12, 2012
So, why introduce a 1st Class global stamp for $1.10, when it only costs $0.85 or $1.05 for global 1st class?
Eric W
3:29 pm on Friday, October 12, 2012
meanwhile, email continues to be free. How much more will they go to put that final nail in the postal service coffin?
Cheryl Kelly
9:11 am on Saturday, October 13, 2012
If you worked for the postal system for 23 years and not old enough to retire and were faced with no job after all these years. You would feel differently! Why is when other items prices are raised people grumble but when the cost of postage goes up it is the worse thing in the world. Postal employees havent gotten a pay raise in years! Yes years! But the price to keep a roof over our families head, food on the table and gas in the car to get to work sure has!
Goldwater Conservative
10:08 am on Saturday, October 13, 2012
Yo dufus,
Us Postal rates r the cheapest in the industrial world.
Why don't u complain about the huge increases in gas, heating oil, or food that this president has bestowed upon us? Or the unemployment rate? They now consider a part time job to be employment. Complain about real issues.