Postal Service Seeks Record Rate Hikes

posted by Andi - 

It may soon cost you more to send a letter, that is if you still do that these days. The U.S. Postal service is suggesting a hike from 50 cents to 55 cents for a one-ounce letter. Although small, the hike would be a record increase if approved.

The move to increase the cost of a letter comes as the Trump administration is putting pressure to address revenue shortfalls in the Postal Service. The rates still have to be approved by the Postal Regulatory Commission.

Other possible increases include a 2.5% percent increase on mailing services, like catalogs and magazines, as well as a 5.9% percent increase on packages.

 Source: CNN 

Photo courtesy of Getty

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