USPS to increase stamp price to 58 cents as part of DeJoy’s restructuring plan –

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USPS to increase stamp price to 58 cents as part of DeJoy’s restructuring plan – fr


The US Postal Service has announced plans to increase the price of first-class stamps from 55 cents to 58 cents as part of Postmaster Louis DeJoy’s 10-year plan “to achieve financial sustainability.”
The state of play: The Postal Service has filed a notice with the Postal Regulatory Commission asking for the new prices to take effect on August 29.

  • The PRC announced new rules in November that give the USPS “higher rate authority in pricing,” according to USPS chief financial officer and executive vice president Joseph Corbett. As a result, the agency can continue its annual inflation-based pricing as well as additional rate increases.

The price changes would increase the overall costs of products and services by 6.9% this summer, and first-class mail would jump 6.8%.

The big picture: DeJoy announced the USPS ’10-year “Delivering for America” ​​plan in March, which would reduce post office hours and implement longer first-class delivery windows, The Washington Post reported to the time.

  • In response, Democratic lawmakers introduced the DEJOY Act, a bill aimed at blocking planned changes.

What he says : “Over the past 14 years, the Postal Service has had limited pricing power to respond to changing market realities,” DeJoy said in a statement.

What to watch: Broadcast groups are challenging the new rates in the DC Circuit Court of Appeals, according to the Washington Post.

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