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The US Postal Service will temporarily raise prices for the holiday season

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A United States Postal Service (USPS) worker exits a Grumman Long Life vehicle.

Paul Tisserand | SOPA Images | Light flare | Getty Images

The U.S. Postal Service filed notice Wednesday of a temporary price hike for this year’s peak holiday season, which it said would help cover additional processing costs.

The agency said the adjustment has been approved by its board of directors and is now pending review by the Postal Regulatory Commission. The price increase would take effect on October 2 and remain in place until January 22, 2023.

The agency said the adjustment is similar to previous years and will allow it to remain competitive during peak shipping season.

Price increases depend on the weight of the package and the delivery distance. Commercial priority mail packages will see a 75 cent hike, and heavy and long distance deliveries could see increases of up to $6.50.

The agency noted that it relies on shipping costs, sales of products and services to fund its operations.

The announced price hike comes shortly after the agency announced plans to purchase at least 25,000 electric delivery vehicles.

Read the USPS statement here.

Sources

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2/ https://www.cnbc.com/2022/08/11/us-postal-service-to-temporarily-hike-prices-for-holiday-season.html

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