Postmaster General Louis DeJoy says inflation is going to necessitate another rate increase in January.
budget, necessitating a request for another rate increase in January, but the service is well prepared for the November election, Postmaster General Louis DeJoy said Tuesday.
Third quarter results for the first time reflected a sweeping congressional overhaul - leading to a non-cash benefit of nearly $59.6 billion. But DeJoy cautioned against reading too much into the one-time benefit, without which the Postal Service would've suffered an adjusted loss of $459 million. The Postal Service Reform Act lifted requirements that contributed to the agency's red ink, like prepaying future retiree health benefits - an obligation that private companies and federal agencies do not face. It also cemented a requirement for mail delivery six days a week.
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USPS to request rate increase due to inflation, postmaster general saysPostmaster General Louis DeJoy says inflation is going to necessitate another rate increase in January.
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USPS to request rate increase due to inflation, postmaster general saysPostmaster General Louis DeJoy says inflation is going to necessitate another rate increase in January.
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USPS to request rate increase due to inflation, DeJoy saysInflation is going to add over $1 billion to the U.S. Postal Service budget, necessitating a request for another rate increase in January, but the service is well prepared for the November election, Postmaster General Louis DeJoy said Tuesday.
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Postal Service Needs to Raise Rates Due to Inflation, Postmaster SaysRates last went up in July with the cost of a first-class Forever stamp increasing by 2 cents to 60 cents.
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