Postal News

Mailbag Wednesday

Finally, a bit of welcome news. After levying rate increases every January, on top of intermittent postage price increases (most recently, on July 14, 2024), the USPS announced on September 20, 2024, that there would be no First-Class Mail single-piece postage rate increase next January 2025. Postmaster General Louis DeJoy’s recommendation not to raise postage prices for “market dominant products” (such as First-Class Mail letters and postcards) after the turn of the year was accepted by the U.S. Postal Service’s Board of Governors. 

Offsetting any celebratory fireworks or dancing in the streets is Cornerstone’s reminder of the September 5, 2024 press release announcement by the Postal Regulatory Commission (a.k.a. PRC) that there will be, once again, a “temporary rate change” in Priority Mail and Ground Advantage [parcel] delivery service postage for the upcoming 2024-2025 holiday season (i.e. from October 6, 2024 through January 19, 2025) [ref:  https://about.usps.com/newsroom/national-releases/2024/0905-usps-proposes-temporary-rate-changes-for-2024-holiday-shipping-season.pdf]  Apparently, “This seasonal adjustment will bring prices for the Postal Service’s commercial and retail customers in line with competitive practices.” 

Of note, the USPS continues to post quarterly fiscal year losses, as most recently cited in the release of 2024 third-quarter results on August 8, 2024, whereupon a net loss of $1,100MM was recorded. This loss is attributable largely to “unfunded liability amortization expense[s]” such as recurring and mandated, non-GAAP pension obligations, which, although largely actuarial, continue to burden the Postal Service’s year-over-year net financial performance. 

Read the full press releases here: 

📌 No Postage Increases – USPS:  

https://about.usps.com/…/0920-usps-announces-no-stamp… 

📌 Holiday Shipping Rate Changes: 

https://about.usps.com/…/0905-usps-proposes-temporary… 

📌 USPS Financial Report: 

https://about.usps.com/…/0808-usps-reports-third… 

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