October 21, 2011, 4:16 PM

Postal Service announces rate hikes

The cost of shipping parcels would increase by 2% starting in January.

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Mail rates for all classes of mail, including package services and standard mail, would increase at least 2% early next year under a new rate schedule from the U.S. Postal Service.

The postal service this week filed the schedule with the Postal Regulatory Commission, which has 45 days to review the schedule. The Postal Service says the new prices go into effect on Jan. 22.

Under the new rate schedule, prices for package services increase 2.133%, while prices for standard mail increase 2.124%. First class mail and periodicals each will cost 2.133% more to ship. The price to ship a standard ground Parcel Post, which concerns online retailers, now starts at $5.10 for a 1-pound package.

The Postal Service also will increase the cost of stamp by one cent, to 45 cents.

Prices for shipping services also will change on Jan. 22. “We will provide customers the new shipping services prices later this fall,” the Postal Service says.

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