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The US Postal Service is looking to increase the price of its first class mail for ever the biggest price increase since 1991.
The USPS board of directors has asked for an increase of 5 cents from the stamp forever, up to 55 cents. Before recalculating the cost of sending these invitations to a wedding, USPS said the change would also reduce the price in additional ounces of letters. So a 2-ounce stamped letter would go from 71 cents to 70 cents, according to one declaration.
Fixed prices for priority mail could also increase by an average of 5.9%. For example, a flat uniform rate box that currently stands at $ 13.65 would increase to $ 14.35.
The Postal Regulatory Commission must approve the amendments before they come into force.
The new tariff plan comes at a time when USPS is struggling with sales as mail has been replaced by electronic communication. While the service handles more parcel deliveries, the loss of mail has been more dramatic – and mail is the primary source of revenue for the service, said Megan Brennan, CEO of Postmaster General and earlier this year, about financial loss.
More: An employee of the post office stole more than $ 600,000 in stamps to fund gambling, according to charges
More: Postal services blame former employee for throwing mail on the roadside
Associated Press contributed to this report. Follow Ashley May on Twitter: @AshleyMayTweets
Read or share this story: https://www.usatoday.com/story/money/nation-now/2018/10/11/usps-biggest-stamp-price-increase-since-1991-priority-mail/1598301002/
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