USPS plans to raise prices for holiday season
A month after raising the price of postage stamps, the United States Postal Service wants to increase the cost of shipping packages over the holidays.
The big picture: USPS is proposing temporary rate adjustments to “help cover extra handling costs” through its busiest season. If approved, the new rates will take effect on Oct. 2 and run through Jan. 22, according to a news release.
- The proposed price hikes, which USPS has instituted in past years, are part of the Postal Service’s 10-year plan "to achieve financial sustainability."
What's happening: The price increases vary by the weight of a package and the distance it's being shipped.
- The increases for Priority Mail and Priority Mail Express range from 30 cents to $6.45, while flat rate boxes and envelopes will go up by 95 cents.
- First-Class packages, Parcel Select Ground and USPS Retail Ground will go up 30 cents and $5.85 per package.
- Commercial shipping prices will also increase but at slightly lower rates.
What they’re saying: “This seasonal adjustment will bring prices for the Postal Service’s commercial and retail customers in line with competitive practices,” USPS said in a statement.
- "These temporary rates will keep USPS competitive while providing the agency with the revenue to cover extra costs in anticipation of peak-season volume," the statement said.
What’s next: The Postal Regulatory Commission must sign off on the changes, which were approved by the Governors of the Postal Service on Tuesday.