The US Postal Service is hiking the prices of its services

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The US Postal Service has announced proposed rate adjustments for the upcoming holiday season.

The agency revealed on Wednesday that it is requesting a temporary price hike on a variety of services for the 2022 peak holiday season. The proposed rate adjustments would affect prices for individuals and businesses on the following commercial and retail domestic competitive parcels: Priority Mail Express, Priority Mail, First-Class Package Service, Parcel Select, and USPS Retail Ground.

International products, meanwhile, would not be affected.

When will the price increase take effect?

The planned peak-season pricing was approved by the Governors of the Postal Service on August 9th but has yet to be reviewed by the Postal Regulatory Commission (PRC). Pending favorable review by the PRC, the temporary rates would go into effect at 12 a.m. CT (1 a.m. ET) on October 2nd and remain in place until 12 a.m. CT on January 22nd, 2023.

H2: US Postal Service proposed price changes

The planned price increases will range from 25 cents to upwards of $6 per package. Check out the proposed rate adjustments below:

Priority Mail and Priority Mail Express

Commercial:

  • $0.75 increase for PM and PME Flat Rate Boxes and Envelopes.
  • $0.25 increase for Zones 1-4, 0-10 lbs.
  • $0.80 increase for Zones 5-9, 0-10 lbs.
  • $0.75 increase for Zones 1-4, 11-25 lbs.
  • $2.80 increase for Zones 5-9, 11-25 lbs.
  • $3.00 increase for Zones 1-4, 26-70 lbs.
  • $6.50 increase for Zones 5-9, 26-70 lbs.

Retail:

  • $0.95 increase for PM and PME Flat Rate Boxes and Envelopes.
  • $0.30 increase for Zones 1-4, 0-10 lbs.
  • $1.00 increase for Zones 5-9, 0-10 lbs.
  • $0.95 increase for Zones 1-4, 11-25 lbs.
  • $3.20 increase for Zones 5-9, 11-25 lbs.
  • $3.25 increase for Zones 1-4, 26-70 lbs.
  • $6.45 increase for Zones 5-9, 26-70 lbs.

First-Class Package Service, Parcel Select Ground, and USPS Retail Ground

Commercial:

  • $0.25 increase for Zones 1-4, 0-10 lbs.
  • $0.40 increase for Zones 5-9, 0-10 lbs.
  • $0.75 increase for Zones 1-4, 11-25 lbs.
  • $1.60 increase for Zones 5-9, 11-25 lbs.
  • $3.00 increase for Zones 1-4, 26-70 lbs.
  • $5.50 increase for Zones 5-9, 26-70 lbs.

Retail:

  • $0.30 increase for Zones 1-4, 0-10 lbs.
  • $0.60 increase for Zones 5-9, 0-10 lbs.
  • $0.95 increase for Zones 1-4, 11-25 lbs.
  • $2.70 increase for Zones 5-9, 11-25 lbs.
  • $3.25 increase for Zones 1-4, 26-70 lbs.
  • $5.85 increase for Zones 5-9, 26-70 lbs.
The US Postal Service products that are affected by the proposed price hike | Credit: US Postal Service website

Why is the US Postal Service raising its rates?

In a statement, the US Postal Service said that the proposed “temporary rate adjustment is similar to ones in past years that help cover extra handling costs to ensure a successful peak season.”

The Postal Service added that this seasonal adjustment will bring prices for its commercial and retail customers in line with competitive practices and provide the agency with the revenue to cover extra costs in anticipation of peak-season volume. For those who are not aware, the Postal Service is actually the one that handles the final delivery of many packages shipped by Amazon and other online retailers, with items delivered in bulk to the post office nearest to the buyer’s home.

If the higher rates were approved by the PRC, this would be the third year in a row that the agency implemented a price hike during the holiday season. Due to heightened demand and extra shipping costs, it enacted similar rate adjustments in 2020 and 2021.

The impending price hike comes after the cost of a US postage stamp increased by 2 cents in July, raising the cost of mailing a first-class letter by 3.4%, to 60 cents.

Source: CNN, US Postal Service

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