{"id":1152,"date":"2010-07-07T18:50:55","date_gmt":"2010-07-07T23:50:55","guid":{"rendered":"http:\/\/postalemployeenetwork.com\/news\/?p=1152"},"modified":"2010-07-07T18:50:55","modified_gmt":"2010-07-07T23:50:55","slug":"usps-price-change-request-expected-to-generate-3-billion-in-fy-2012","status":"publish","type":"post","link":"https:\/\/postalemployeenetwork.com\/news\/2010\/07\/07\/usps-price-change-request-expected-to-generate-3-billion-in-fy-2012\/","title":{"rendered":"USPS price change request expected to generate $3 billion in FY 2012"},"content":{"rendered":"<p><strong><em>To help close revenue gap: USPS price change request expected to generate $3 billion in FY 2012<\/em><\/strong><\/p>\n<p>Facing a projected deficit of nearly $7 billion next fiscal year, the Postal Service continues to aggressively pursue its action plan \u2014 outlined by PMG Jack Potter in an announcement March 2 \u2014 to help USPS close a financial gap resulting from the economic recession, unprecedented declines in mail volume, increased use of electronic communications and USPS obligations to prepay retiree health benefits.<\/p>\n<p>Acting on that plan, the Postal Service filed a proposal with the Postal Regulatory Commission (PRC) July 6 to change the prices of mailing services on Jan. 2, 2011. The filing seeks an average 5.6 percent price increase for its market dominant products, including First-Class Mail, Standard Mail, Periodicals, Package Services and Special Services. If approved by the PRC, the proposed price changes will raise about $3 billion in FY 2012.<\/p>\n<p>This is the first time the Postal Service is requesting prices above the rate of inflation, an action that is allowed under the Postal Accountability and Enhancement Act of 2006. Under the 2006 postal law, USPS is entitled to receive annual price increases based on the rate of inflation. But the law also entitles USPS to file exigent rate cases under exceptional or extraordinary circumstances.<\/p>\n<p>Among the extraordinary circumstances noted by USPS in its filing with the PRC are the facts that:<\/p>\n<ul>\n<li>Mail volume has plummeted by more than 25.6 billion pieces, or 12.7 percent, in one fiscal year, with total mail volume standing at 177 billion pieces.<\/li>\n<li>First-Class Mail, the highest revenue contributor to the USPS bottom line, has the fastest rate of volume decline.<\/li>\n<li>Overall mail volume has declined at a higher rate than it did immediately following the terrorist attacks of 9\/11.<\/li>\n<li>More Americans are switching to electronic alternatives, further eroding a dwindling customer base.<\/li>\n<\/ul>\n<p>For detailed information about the price filing, <a href=\"http:\/\/www.usps.com\/prices\/\" target=\"_blank\">click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>To help close revenue gap: USPS price change request expected to generate $3 billion in FY 2012 Facing a projected deficit of nearly $7 billion next fiscal year, the Postal Service continues to aggressively pursue its action plan \u2014 outlined by PMG Jack Potter in an announcement March 2 \u2014 to help USPS close a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-1152","post","type-post","status-publish","format-standard","hentry","category-usps-news","last_archivepost"],"_links":{"self":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/1152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/comments?post=1152"}],"version-history":[{"count":2,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/1152\/revisions"}],"predecessor-version":[{"id":1154,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/1152\/revisions\/1154"}],"wp:attachment":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media?parent=1152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/categories?post=1152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/tags?post=1152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}