Wednesday, November 16, 2005

New rates go into effect January 8

The US Postal Service Governors have voted to accept the Postal Rate Commission’s recommendations to increase most postal rates and fees by approximately 5.4% across-the-board. The increase takes effect Jan. 8.

This rate increase — the first since 2002 — is needed to fulfill a 2003 federal law requiring the Postal Service to establish a $3.1 billion escrow account, with use of the funds to be determined by Congress at a later date. If it weren’t for the federal mandate, it wouldn’t have been necessary to raise rates in 2006 according to a USPS announcement.

“The Governors take this action mindful of our obligation to assure the financial integrity of the nation’s postal system,” said Board of Governors Chairman Jim Miller. “These increases will allow the Postal Service to meet the obligation established by Congress to place funds in escrow in 2006.”

Among the rate adjustments, the single-piece rate for First-Class Mail will increase from 37 cents to 39 cents and the postcard rate will increase by one cent to 24 cents. International rates also will increase the same day.

A non-denominational 39-cent will be issued featuring the Statue of Liberty and the US flag.

To learn more about the domestic and foreign postal rates of other countries around the world, click here.
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posted by Don Schilling at 12:01 AM