UNDATED (WKRC/CNN Newsource) – The U.S. Postal Service is set to raise prices for several shipping services next year.
The Board of Governors has approved rate hikes for Priority Mail, Priority Mail Express, Ground Advantage and Parcel Select. Priority Mail rates will rise about 6.6%, while Ground Advantage rates will increase 7.8%.
USPS said the changes reflect market conditions and are part of its 10-year transformation plan. Prices for regular mailing services, including the first-class stamp, will remain unchanged.
The Postal Regulatory Commission will review the proposed increases before their planned implementation in January. The Postal Service also reported $9 billion in net losses for the year, prompting officials to call for further administrative and legislative reforms.