The U.S. Postal Service has proposed a rate increase for this summer, which would raise the price of a first-class stamp from 73 cents to 78 cents. This increase in postage rates is part of the USPS’s efforts to generate more revenue due to declining mail volume and increased costs. The rate hike will also affect other types of mail, such as packages and Priority Mail services. The Postal Service has been facing financial challenges in recent years, including a decrease in mail volume and increased competition from private delivery services. The proposed rate increase would help offset some of these financial pressures and help the USPS remain financially stable. Customers may need to budget more for postage expenses if the rate hike is approved, as the cost of sending mail will likely increase across the board. Overall, the rate increase is intended to ensure that the Postal Service can continue to provide reliable mail service to the public while maintaining financial sustainability.
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Cost of postage stamps could be going up — once more
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