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The US Postal Service (USPS) on Wednesday said it would hike prices temporarily for the peak holiday season this year, which it said would help cover extra handling costs.The agency said it filed a notice with the Postal Regulatory Commission for a review and also mentioned that its board of governors have already approved the adjustment.
The price increase would go into effect on October 2 and remain in place until January 22, 2023.
“These temporary rates will keep USPS competitive while providing the agency with the revenue to cover extra costs in anticipation of peak-season volume,” the agency said.
The price increases will depend on the package’s weight and the delivery distance. Commercial priority mail packages will see a 75-cent hike, and heavy, long-distance deliveries could see increases of up to $6.50.
The agency noted that it relies on postage, product, and service sales to fund operations.
Picture Credit: NY Post
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