Postal prices drop for first time in about 100 years

Post offices across the country have reduced First Class Mail prices.

According to United States Post Office Corp Communications spokesperson Susan W. Wright, located in Lexington, Kentucky, this price reduction is the first one to occur in nearly 100 years.

“The price rollback was mandated by the Postal Regulatory Commission. It is estimated this price change will have a $2 billion negative impact on the Postal Service revenue,” she said.
“It has been 97 years since the price of a stamp was reduced. 

The Postal Service anticipates customers will continue to recognize the value of the mail in today’s vibrant communication and package delivery environment.”

According to a press release issued by the USPS in Washington, D.C., the price reduction was effective on April 10.

“The PRC granted an exigent surcharge beginning in January 2014 on mailing products and services totaling $4.6 billion to recover for the massive volume and revenue losses resulting from the Great Recession. However, this amount only partially offsets Postal Service revenue losses – which the Postal Service estimates exceeded $7 billion in 2009 alone,” the press release stated.

“The PRC is required to review the market-dominant regulatory system to determine whether it is achieving the statutory objectives mandated by Congress.”

The press release also stated that the USPS does not receive tax dollars “for operating expenses and relies on the sale of postage, products and services to fund its operations.”

The new First Class Mail prices are now:

• Letter (1 ounce): 47 cents (was 49 cents before April 10);
• Letters additional ounces: 21 cents (was 22 cents);
• Letters to all international destinations: $1.15 (was $1.20);
• Postcards: 34 cents (was 35 cents)
A complete listing of all new prices are available on www.ups.com.

By DEBBIE BATTEIGER
Murray Ledger & Times