WASHINGTON (AP) — The U.S. Postal Service is seeking a rate increase this summer that includes hiking the cost of a first-class stamp from 73 cents to 78 cents.
The request was made Wednesday to the Postal Regulatory Commission, which must OK the proposal. If approved, the 5-cent increase for a “forever” stamp and similar increases for postcards, metered letters and international mail would take effect July 13.
The proposed changes would raise mailing services product prices approximately 7.4%.
The Postal Service contends, as it did last year when it enacted a similar increase, that it’s needed to achieve financial stability.