KSNF/KODE — The United States Postal Service has announced price increases due to operating expenses and a lack of revenue.

The increase in prices is expected to take effect on January 22, 2023. Prices for standard 1oz. letters will increase from 60 cents to 63 cents. Domestic postcards will increase from 44 cents to 48 cents and international postcards and letters will both increase by 5 cents to $1.45.

USPS has lost $87 billion over the past 14 fiscal years, including over $18 billion since the beginning of the pandemic. The Postal Service did receive $10 billion in COVID relief funds from the Coronavirus Aid, Relief and Economic Security Act, also known as the CARES Act, but according to the GAO, the USPS business model is unsustainable, and all retiree health benefits would be depleted by 2030 if a major restructuring doesn’t take place.