USPS Proposes Hiking Stamp Prices Early Next Year (From KARE-TV, NBC Affiliate, Minneapolis, MN)

Lexington’s Paul Steidler was quoted in a story by KARE-TV, the NBC television affiliate in Minneapolis, Minnesota, about the U.S. Postal Service’s (USPS’s) plan to raise first-class mail prices by an average of 4.2 percent in January 2023. The price of the widely used First-Class Mail Forever stamp would increase from 60 cents to 63 cents. The proposal, which follows another increase in July, is expected to be approved by the Postal Regulatory Commission.

“It was widely expected,” said Steidler. “It’s a significant increase though and we’re likely to have much more of these increases in the future.” Regarding USPS, he stated, “They’re getting hit hard on two fronts. They use a lot of gasoline and gas prices are up. It’s also a very labor-intensive business, especially because of the slower and more time-consuming delivery of packages. So, its labor costs have gone up.”

Read the full article here.