Shipping packages at the Post Office is about to get more expensive

USPS Shipping Rates Increase 2016Image Source: REUTERS/Mike Blake

Between the untimely deaths of two incredible performers and the realization that we have to sit through another whole year of campaigning from the presidential candidates, 2016 isn’t off to the best start. To make matters worse, USA Today reported on Friday that the United States Postal Service will raise shipping rates on January 17th.

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According to the report, the USPS will raise shipping rates for Priority Mail packages by an average of 9.8% while Priority Mail Express shipments will jump by an average of 14.4%. On the other hand, one-ounce First Class letters will still cost 49 cents.

“This is the first price increase in more than three years. Calculated over that three-year period, overall the price change averages out to 3.3% per year,” said USPS spokesman Roy Betts.

If you don’t regularly ship packages, this price increase won’t have much of an effect on your life, but those who do might have to reevaluate their annual budgets. After all, UPS Ground and FedEx rates increased by an average of 4.9% over the past few weeks, so no matter which service you choose, you’re going to be paying more.

Betts says that USPS Priority Mail shipments have increased substantially over the past few years, rising from 924 million in 2013 to over a billion in 2015. Priority Mail revenue has also ballooned to $7.7 billion, up from $7 billion in 2013.

USA Today
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