Latest News

US Postal Service won't seek a stamp price increase in January

The U.S. The U.S.

USPS, which is losing money, raised prices to 78 cents in July from 73 cents. This increased the price of all mailing services by 7.4%. USPS will review prices by mid-2026. After a series price increases since the beginning of 2019, when stamps were only 50 cents, stamp prices have risen by 46%. The volume of first-class mail is at its lowest since 1968.

This is the first announcement made by David Steiner, who became U.S. postmaster general in July 2017 after President Donald Trump removed his predecessor Louis DeJoy.

In February, Trump referred to the USPS as a "tremendous loss for this country" and said that he would consider merging it with the U.S. Commerce Department. Democrats said the move would be in violation of federal law.

DeJoy was responsible for a dramatic restructure of the USPS. This included reducing forecasted cumulative losses from $160 billion to $80 billion over ten years.

USPS, a 635,000-strong agency that lost $9.5billion last year, has reduced its workforce earlier this year by 10,000 employees through a voluntary retiree program.

In August, the USPS reported a net loss of $3.1 billion for the three-month period ending June 30. This is up from $2.5 billion reported during the same time last year. USPS has lost over $100 billion since 2007. Reporting by David Shepardson, Editing by Chris Reese & Aurora Ellis

(source: Reuters)