USPS wants to raise prices because people are buying more products than ever

The price of sending letters and packages in America could go up this July after the USPS announced plans to increase the cost of mail service.
A proposal from the USPS says mailing services price changes would include:
Product | Current Prices | Planned Prices |
Letters (1 oz.) | 58 cents | 60 cents |
Letters (metered 1 oz.) | 53 cents | 57 cents |
Letters additional ounce(s) | 20 cents | 24 cents |
Domestic Postcards | 40 cents | 44 cents |
International Letter (1 oz.) | $1.30 cents | $1.40 cents |
The proposed prices would need approval from the Postal Regulatory Commission before taking place. Changes would begin with items shipped on July 10 and onward.
This would make first-class mail prices go up by 6.5%, the USPS says. But despite that increase, it is lower than the most recently reported inflation rate by the U.S. Bureau of Labor Statistics in February, which was 7.9%.
"As inflation and increased operating expenses continue, these price adjustments 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," the USPS said in a press release. "With the new prices, the Postal Service will continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping."
Delivering for America, the USPS' 10-year-plan, began in March 2021. It addresses concerns for the mail industry caused by the COVID-19 pandemic, like the volume of packages ordered compared to the amount of available workers or air shipment flights that could deliver them. The USPS says Delivering for America will help meet the needs of the American public and consumers as the pattern of delivery was dramatically shifted in 2020 with no signs of slowing down.
There is no set date for when the proposed prices would be approved, but the USPS expects them to pass by July 10.