US Postal Service to hike stamp prices amid inflation

The US Postal Service (USPS) is planning to increase the prices of stamps and other services again in January after last month’s 6.5% hike.

First-class stamp prices are available for 60 cents since July, an increase of 2 cents.

According to Postmaster General Louis DeJoy, the rising inflation has caused the USPS to raise its budget plan by over $1 billion, forcing the service to raise its price again in January.

DeJoy said that the USPS was for years undercharging for package and mail deliveries.