The United States Postal Service (USPS) has announced price increases due to operating expenses and a lack of revenue.
The increase in prices are expected to take effect on Jan. 22, 2023. Prices for standard 1oz. letters will increase from 60 cents to 63 cents. Domestic postcards will increase from 44 cents to 48 cents and international postcards and letters will both increase by five cents to $1.45.
The postal service's expenses have exceeded its revenues year-after-year since 2007. According to the U.S. Government Accountability Office (GAO), the USPS is able to remain in business by increasing its debt and missing required federal payments funding retiree pension benefits, according to the GAO.
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