THE price to ship with the United States Postal Service will increase among all its services beginning January 19, 2025.
This comes after the usps reported a net loss of US$9.5 billion last year, over $3 billion more than it lost in 2023, writes the Washington Examiner.
'Over 80 per cent of our current year net loss is attributed to factors that are outside of management's control,' according to the department.
Priority Mail and Priority Mail Express services will increase their prices by 3.2 per cent, and USPS Ground Advantage prices will be up by 3.9 per cent.
Parcel Select services, which apply to large-volume shipping, will see the largest price hike at 9.2 per cent. The agency attempted to increase the price of its parcel service by 25 per cent but failed.
While these increases were voted on by the USPS Board of Governors, the Postal Regulatory Commission has yet to review the change. The commission's approval will be the final step to make the price hikes official.
In May, the USPS raised the price of stamps from 68 cents to 73 cents. Stamp sales and shipping prices help fund the Postal Service, as it does not receive tax dollars toward its operating expenses. The stamp hike alone will result in an anticipated $44 billion in revenue by 2031.
Last year, first-class mail was at its lowest volume since 1968 at just over 45 billion pieces shipped. This year, first-class mail decreased again to forty-four billion, but shipping and packages increased by over 100 million.
SeaNews Turkey
This comes after the usps reported a net loss of US$9.5 billion last year, over $3 billion more than it lost in 2023, writes the Washington Examiner.
'Over 80 per cent of our current year net loss is attributed to factors that are outside of management's control,' according to the department.
Priority Mail and Priority Mail Express services will increase their prices by 3.2 per cent, and USPS Ground Advantage prices will be up by 3.9 per cent.
Parcel Select services, which apply to large-volume shipping, will see the largest price hike at 9.2 per cent. The agency attempted to increase the price of its parcel service by 25 per cent but failed.
While these increases were voted on by the USPS Board of Governors, the Postal Regulatory Commission has yet to review the change. The commission's approval will be the final step to make the price hikes official.
In May, the USPS raised the price of stamps from 68 cents to 73 cents. Stamp sales and shipping prices help fund the Postal Service, as it does not receive tax dollars toward its operating expenses. The stamp hike alone will result in an anticipated $44 billion in revenue by 2031.
Last year, first-class mail was at its lowest volume since 1968 at just over 45 billion pieces shipped. This year, first-class mail decreased again to forty-four billion, but shipping and packages increased by over 100 million.
SeaNews Turkey