(Bloomberg) -- The U.S. Postal Service on Tuesday announced it is seeking temporarily higher rates for packages during the 2021 holiday season.
From Oct. 3 to Dec. 26, increases are to range from 25 cents to as much as $5 for heavier parcels, the Postal Service said Tuesday in a news release. They were approved by the service's board of governors earlier this month and are subject to review by the Postal Regulatory Commission.
The higher rates would help cover extra costs in anticipation of peak-season volume surges like those seen last year, the Postal Service said in a news release.
The Postal Service earlier announced a slower delivery schedule to stabilize its finances following chronic deficits. It increased the price of a First Class stamp to 58 cents from 55 cents as it contends with slumping mail volume and lagging delivery.
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