US Postal Service proposes new prices 'to offset' inflation

According to a statement from the US Postal Service, pricing increases were proposed on Friday "to counteract the rise in inflation."

The U.S. Postal Service Governors have authorised pricing increases that include a three-cent rise for purchasing a stamp and a four-cent increase for mailing a postcard.

According to USPS, the adjustments result in a 4.2% price increase for first class mail.

The Postal Regulatory Commission must now evaluate the idea.

The US Postal Service's statement comes as shoppers around the country continue to struggle with increased costs for food, gas, and other essentials.

President Joe Biden approved a measure earlier this year in response to the US Postal Service's current financial struggles, which have been made public.

The Postal Service intends to raise the costs of renting PO Boxes, using money orders, and purchasing shipping insurance.

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