US Postal Service rate increases takes effect Sunday

Check out what’s clicking on FoxBusiness.com. The next time you mail through the United States Postal Service (USPS), it’s going to cost you extra.  The USPS’ rate hike, upping First-Class Mail prices by 6.5%, took effect Sunday, according to the agency. When the USPS made its announcement in April it noted that the 6.5% increase would still be below inflation, which is sitting at a rate of 8.6%. However, this likely won’t be the last increase from the USPS.In May, Postmaster General Louis DeJoy said Americans should get used to “uncomfortable” postage rate increases in coming years as the U.S. Postal Service seeks to become self-sufficient.  US POSTAL SERVICE TO SLOW DOWN NEARLY A THIRD OF FIRST-CLASS PACKAGE DELIVERIES The Postal Service Board of Governors sets postage rates, but DeJoy said he’ll advocate for raising prices until “we have accomplished our objective of projecting a trajectory that shows us being self-sustaining.” Fox took an inside look at a USPS processing and distribution hub in Dulles, Virginia, as Americans rush to get last-minute gifts in the mail. (FNC / Fox News)That objective is laid out in the USPS’ 10-year plan, Delivering for America. As part of this plan, the USPS is working to break even by the fiscal year 2023 and avoid $160 billion in projected losses over the next 10 years. The price adjustments taking effect Sunday “will help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next ten years,” according to the USPS. Here are the price changes, according to Stamps.com, which is an independent vendor of the USPS.The First Class Mail (1 oz.) letter rate for postage purchased at the Post Office: Increased two cents to $0.60. Each additional ounce will cost $0.24.The “Metered Mail” rate for First Class Mail (1 oz.) letters: Increased four cents to $0.57.USPS PLACES $3 BILLION ORDER FOR 50,000 NEW DELIVERY VEHICLES INCLUDING 10,000 ELECTRIC TRUCKSFirst Class Mail Flats/Large Envelopes (1 oz.): Increased four cents to $1.20. Each additional ounce will cost $0.24.First Class Mail International (1 oz.): Increased ten cents to $1.40. Detail view of the USPS logo on a piece of priority mail.  (Brett Carlsen/Getty Images / Getty Images)Postcards: Increased four cents to $0.44.CLICK HERE TO READ MORE ON FOX BUSINESSFirst Class Mail International (1 oz.): Increased ten cents to $1.40.Certified Mail: Increased by twenty-five cents to $4.00.Media Mail: Increased by 9% to $3.49.The Associated Press contributed to this report. 

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