USPS embarks on aggressive price hike amid unprecedented financial overhaul
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Beginning on Sunday, the price for first-class US mail stamps will jump to 73 cents from 68 cents, marking a 7.8% rise in the price of mailing services products. USPS has been aggressively increasing stamp prices due to losing over $100 billion since 2007. The Postal Service is undergoing a restructuring plan to erase $160 billion in projected losses over the next decade. The new pricing policy is expected to generate $44 billion in additional revenue by 2031. First-class mail volume dropped 6.1% in the 12 months ending September 30, 2023, to 46 billion pieces, the lowest volume since 1968. President Joe Biden signed legislation offering USPS about $50 billion worth of financial relief for a decade. US Postmaster General Louis DeJoy agreed not to further consolidate the Postal Service's processing network until at least January. The constant restructuring and price adjustment aim to ensure the long-term survival of USPS.

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https://www.wionews.com/business-economy/usps-embarks-on-aggressive-price-hike-amid-unprecedented-financial-overhaul-740655