US Postal Service Implementing "Temporary" Price Hikes For The Holiday Season
Not even the U.S. Postal Service is immune to the effects of inflation.
The consistently under-funded and mis-managed government-run service filed a notice of a "temporary" price hike for this year's holiday season.
We'd be willing to bet whatever we can get our hands on that this "temporary" hike very quickly becomes a "permanent" hike.
The Postal Service said the hikes were approved by its board of governors and are now pending review by the Postal Regulatory Commission, according to a write-up by CNBC.
The adjustment is "similar to past years", the agency said. Sure, except CPI wasn't coming in at 8.5% at any point in "past years". The agency claims it will help it remain competitive during the holiday season.
The plan would be for the changes to go into effect October 2, 2022 and remain in place until January 22, 2023.
Price increases will be commensurate with package weights and distance of delivery. Commercial priority mail packages will see $0.75 hikes in prices, while heavy long distance deliveries could see increases of up to $6.50, the report says.
The hikes also come shortly after the agency announced its intention to buy 25,000 electric delivery vehicles.
In justifying its reasoning the constantly cash-hemmhoraging agency said it "relies on postage, product and service sales" to fund operations.
Yeah, that and the Fed's cash printer.
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