The Postal Service will implement the new market-dominant prices as planned, on Sunday, Aug. 29. 2021. The new pricing will enable us to grow revenue to help achieve financial sustainability to fulfill our universal service mission, as outlined in our Delivering for America plan.
The proposed price changes will raise overall Market Dominant product and service prices by approximately 6.9 percent. First-Class Mail prices will increase by 6.8 percent to offset declining revenue due to First-Class Mail volume declines. In the past 10 years, mail volume has declined by 46 billion pieces, or 28 percent, and is continuing to decline. Over the same period, First-Class Mail volume has dropped 32 percent, and single piece First-Class Mail volume — including letters bearing postage stamps — has declined 47 percent.
“For the past 14 years, the Postal Service has had limited pricing authority to respond to changing market realities,” said Postmaster General and CEO Louis DeJoy. “As part of our 10-year plan to achieve financial sustainability and service excellence, the Postal Service and the Board of Governors are committed to judiciously implementing a rational pricing approach that helps enable us to remain viable and competitive and offer reliable postal services that are among the most affordable in the world.”