A United States Postal Service (USPS) mailbox is seen in Manhattan, New York City, U.S., May 9, 2022.
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 6 (Reuters) - The United States Postal Service (USPS) said on Friday it wants to raise the price of first-class mail stamps to 68 cents from 66 cents effective Jan. 21.
The proposal, which must be approved by the Postal Regulatory Commission, would raise mailing services product prices by about 2%, significantly less than prior price hikes.
Stamp prices are up 32% over the last four years since early 2019 when they were 50 cents.
USPS has been raising stamp prices twice yearly and expects its "new pricing policy to generate $44 billion in additional revenue" by 2031.
Persons:
Andrew Kelly, David Shepardson, Chris Reese, Sandra Maler
Organizations:
United States Postal Service, REUTERS, Postal Regulatory Commission, USPS, Service, U.S . Congress, Thomson
Locations:
Manhattan , New York City, U.S