USPS Incurs $9.5 Billion Loss Despite Raising Stamp Prices

The ‘unsustainable’ stamp price increases have had ‘disastrous effects’ on the postal organization, according to a group of senators.

A post office in Buena Park, Calif., on Jan. 15, 2021. John Fredricks/The Epoch Times

The U.S. Postal Service (USPS) incurred a significant increase in its losses this fiscal year, as revenues jumped but volumes dipped.

Net loss for 2024 fiscal totaled $9.5 billion, up from $6.5 billion last year, according to a Nov. 14 statement from the agency reflecting its earnings. The $3 billion increase in losses occurred at the same time as the agency had a slight revenue increase to $79.53 billion from $78.18 billion. The revenue uptick was not supported by an increase in mail volume, which fell from 116 billion units to 112 billion units.