WASHINGTON — The United States Postal Service announced Wednesday that it has proposed new prices for the coming year.
The agency proposed the following, which would go into effect January 26, 2014:
- Letters (1 oz.) – 3-cent increase to 49 cents
- Letters additional ounces – 1-cent increase to 21 cents
- Letters to all international destinations (1 oz.) – $1.15
- Postcards – 1-cent increase to 34 cents
The Postal Service hoped the price increases would generate $2 billion in revenue. Board of Governors Chairman Mickey Barnett said the Postal Service is facing financial challenges and that raising prices was a last resort, but necessary in order to meet current postal needs.
The Postal Regulatory Commission will review the prices before they become effective, and decide if they are consistent with current law.
More information about the proposed increases can be found here.