U.S. Postal Service Seeks to Raise the Price of Stamps
The price of stamps could be going up soon. In fact, the U.S. Postal Service has requested a five cent increase, which would be the single biggest price jump in history.
Today, the U.S. Postal Service requested to raise the price of stamps from fifty cents to fifty-five cents. It's no secret that the agency, because of competition from email and online advertising campaigns, has been dealing with revenue issues for years and those issues continue to mount. But stats show a drastic reduction in revenue from year to year. In 2015, the U.S. Postal Service reported a revenue of $28.4 billion dollars. Last year, that figured dropped nearly three billion dollars. Yes! A three billion dollar decrease in revenue in just two years.
To combat that, the board of governors have requested what would be, if approved, the biggest price increase ever. The proposal to increase the cost of stamps from 50 cents to 55 cents must be approved by the Postal Regulatory Commission.
The price of stamps rose from 49 cents to 50 cents in January of 2018.