Postage rates will be increased across the board on January 22 next year

Postage rates will be increased across the board on January 22 next year (Alberta Times) In order to avoid bankruptcy, the Federal Postal Service announced that it will increase express delivery (e...

Postage rates will be increased across the board on January 22 next year (Alberta Times) In order to avoid bankruptcy, the Federal Postal Service announced that it will increase postage rates for express mail and priority mail starting from January 22 next year. The newly effective postage includes domestic next-day express delivery of 39.95 yuan for packages weighing up to 70 pounds; the postage for express letters has increased to 18.95 yuan. Currently, the next-day express delivery fee is 13.25 yuan or more, but if the item is overweight or the distance is too long, additional fees will apply. This new postage rate is equivalent to an average increase in postage rates of approximately 5%. The post office announced earlier that it would increase the number of regular stamps by one cent to 45 cents, which will also take effect on January 22. Priority mail, which the post office guarantees delivery in two to three days, will cost 3.1% more. Postage rates effective January 22 include: Priority Mail for small packages is $5.35, Priority Mail for medium packages is $11.35, and Priority Mail for large packages is $15.45. Regular envelope Priority Mail is $5.15, large envelopes and padded Priority Mail are $5.30. The postage increase announced on November 22 is in addition to the price increase for ordinary stamps. Postage rate adjustments by the Post Office must be approved by the Postal Regulatory Commission, an independent body. In the past year, the post office lost 5.1 billion yuan, mostly due to a 5.8% decrease in regular mail revenue; a 6.3% increase in priority mail and express delivery revenue. The reason for the post office's loss is that it needs to bear the future medical benefit expenses of retired employees, the economic recession and the Internet have reduced the post office business volume. Despite the increase in postage rates, it is still a drop in the bucket to make up for the huge losses of the post office. Postmaster General Donahue said that if Congress does not allow the Postal Service to close some post offices and reduce the number of delivery days to five days, the Postal Service will go bankrupt next September.