The
U.S. Postal Service plans to raise shipping prices by 4.6% next year in
an effort to boost revenue. Under the proposed rates, which face review
by the Postal Regulatory Commission before they would take effect
January 22nd, priority-mail shipment prices would increase 3.1%, and
express-mail prices would rise 3.3%. The steepest increases are for
international mail and parcel-select service, which is mainly used by
commercial shippers. The increases would come on top of a 1-cent rise in
the price of first-class mail, to 45 cents. The Postal Service lost
$5.1 billion for the fiscal year ended September 30th, and it would have
lost more than $10 billion if it wasn’t allowed to delay a required
annual $5.5 billion payment into a fund for future retiree health
benefits. The Postal Service also unveiled a new $39.95 overnight box
for customers shipping items that can’t fit into an express-mail
flat-rate envelope, the cost of which would rise to $18.95 under the
proposed changes. The new express mail box would still lower prices for
half- and one-pound packages as well as commercial packages to local and
nearby areas, the Postal Service said.
