The United States Postal Service (USPS) wants to raise the price of its first-class mail “forever” stamp from 50 to 55 cents, which would reportedly be the biggest price hike since 1991.
The USPS said in a statement Thursday that it has proposed the 5-cent increase to the Postal Regulatory Commission to take effect on Jan. 27 of next year. USA Today reported it would be the largest price increase since 1991.
The USPS also proposed increasing priority mail rates by 5.9 percent and priority mail express rates by 3.9 percent.
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Some business leaders have previously expressed concern that President Trump would increase USPS package rates as a way of retaliating against Amazon founder Jeff Bezos, who also owns The Washington Post.
The Wall Street Journal reported Thursday that some of the USPS’s highest proposed increases are on a service frequently used by Amazon called Parcel Select. Amazon and carriers such as UPS and FedEx often use Parcel Select to deliver packages on the last leg of a trip, the Journal reported.
According to the Journal, the USPS proposed a 9.3 percent hike on Parcel Select packages weighing over 1 pound and a 12.3 percent increase on lighter packages.
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US Postal Service requests largest stamp price hike since 1991 https://t.co/qu181FlX2S pic.twitter.com/GCMEZzbULv
— The Hill (@thehill) October 11, 2018
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