Even the post office is not immune to inflation. Get the Forever stamp before it’s too late.
On October 13, 2022, the United States Bureau of Labor Statistics is expected to announce the Consumer Price Index (CPI) for the month of September.
What happened: In the latest consumer price index release, the all items index rose 8.3% over the last twelve months, with the CPI rising 0.1% in August.
Over the last twelve months, postage and delivery services for the month of August have increased by 3.9% unadjusted for seasonality.
This was mainly due to soaring costs for delivery services, which represented an unadjusted increase of 11.5% over the last twelve months, while postal services increased by only 3% unadjusted.
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Why it matters: On October 7, the United States Postal Service announced new prices for 2023, after filing price changes with the Postal Regulatory Commission (PRC) that will take effect on January 22, 2023.
The new tariff allows for a three-cent increase in the price of a First-Class Mail Forever stamp from 60 cents to 63 cents.
If the (PRC) favors the U.S. Postal Service side, the proposed increases will raise first-class mail prices by about 4.2% to offset rising inflation, which has already been approved by the service’s governors. US postal.
As operating expenses increase due to inflation, these price increases will provide the Postal Service with much-needed revenue to provide financial stability to achieve its 10-year Delivery for America plan.
New prices: Proposed price changes include: the price of 1 ounce metered mail would drop from 57 cents to 60 cents, domestic postcards would drop from 44 cents to 48 cents, and international postcards would drop from $1.40 to $1.45 $, according to the US Postal Service.
The Postal Service is also considering price changes for special service products, including certified mail, post office box rental fees, money order fees, and the cost of purchasing insurance when sending mail. an article.