The U.S. Postal Service Board of Governors has approved the majority of the changes in domestic rates, fees and classifications proposed in the rate case settlement agreement recommended by the Postal Rate Commission.
Standard Mail rates will increase an average of 7.1% effective June 30.
First class stamps will go up to 37 cents per ounce and another 23 cents for each additional ounce.
Rates will not rise again until 2004, postal officials said today, reiterating Postmaster General Jack Potter’s commitment made last Friday.
The Direct Marketing Association supported the BOG decision.
"While we are never pleased when rates increase, we are gratified that the mailing community, the postal service and the Postal Rate Commission could work together to reach this settlement agreement," DMA president H. Robert Wientzen, said in a statement.
