|USPS price hikes take effect Jan. 26|
|Written by Holyoke Enterprise|
|Wednesday, 15 January 2014 10:41|
A new set of postal service price hikes will go into effect Sunday, Jan. 26 with the goal of generating $2 billion in new revenue.
The biggest changes include single-piece first-class mail letters weighing no more than one ounce rising to 49 cents from 46 cents. Each additional ounce will cost 21 cents, a penny more from the previous price.
The price increase is actually above the typical annual increases associated with changes in the Consumer Price Index. Except in exceptional or extraordinary circumstances, the price of postage is typically set at the rate of inflation measured by the CPI, but due to the United States Postal Service’s ongoing financial woes, an extra 2 cents was added to the price of a first-class stamp.
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