Shipping via the U.S. Postal Service will become more costly in the new year.
According to a notice that USPS filed this week with the Postal Regulatory Commission the increased rates for shipping services will commence on January 21. Recently, the mail service had announced that stamp prices would increase on that day, rising from 66 cents to 68 cents for Forever Stamps.
“The Postal Service continues to offer a great value in shipping. Unlike some other shippers, the Postal Service has upfront pricing and does not add surcharges for residential and regular Saturday delivery or fuel. Also, the Postal Service offers convenient flat rate and cubic pricing options,” USPS said in a statement.
Upcoming price changes include:
- USPS Ground Advantage – 5.4% rate increase
- Priority Mail – 5.7% rate increase
- Priority Mail Express – 5.9% rate increase
- Parcel Select – 5.9% rate increase
- Connect Local – None, price stays the same. Connect Local is USPS same-day and next-day local delivery service.
Other services that will see increased pricing price hikes are the rental fees for Post Office Boxes as well as the cost of sending Registered Mail and purchasing International Mail insurance.
According to process, the price changes will be reviewed by the Postal Regulatory Commission however are expected to be approved amid continuing losses by USPS. For fiscal year 2023, which ended Sept. 30, USPS reported a net loss of $6.5 billion, which is partly being attributed to inflationary pressures and a drop in shipping and mail volumes.
— with files from al.com