The US Postal Service (USPS) has filed the postage rate increase that will take effect on January 29, 2022. The inflation rate (based on CPI-U) was 4.2%, and the USPS used the entire amount. Stamped, single-piece First-Class Mail is going up 3 cents, or 5%. However, averaged out across individual products, all major categories – First-Class Mail, USPS Marketing Mail, Periodicals and Package Services – will have price increase of 4.2%.
The proposed rates still need to be approved by the Postal Regulatory Commission. However, unless there is a calculation error, that is a formality. Mailers should remember that this is the FIRST increase of the year, with another rate hike in July.
USPS Vice President of Pricing Sharon Owens hosted a webinar on Tuesday explaining the rate change. You can watch the replay online and download the slides.
In their monthly report, The Target Report highlighted the role of private equity in the consolidation of the print and package industry. This trend has been most evident and prevalent in the label and flexible packaging segments.
Who has the world’s best postal service? Well, according to the Universal Postal Union, that would be Switzerland. Our very own USPS came in at 7th of 169 posts around the world.
If you are at the Printing United trade show in Las Vegas next week, let us know! Customers will be joining Lois and Mark as they check out the latest in hardware and software at the largest trade show in the industry!
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