From the National Association of Letter Carriers:
Letter carriers will receive their first cost-of-living adjustment (COLA) in three years in September. The COLA will amount to 47 cents per hour ($978 annually). Contract COLAs, which have been provided by our collective-bargaining agreements since 1971, are based on changes in the Consumer Price Index (CPI) every six months. However, due to the recent recessionâ€”the worst since the Great Depression of the 1930sâ€”the CPI has remained mostly flat, and as a result, no COLAs were paid over the past five adjustment periods. Thursday’s COLA, the fourth and final one under our 2006-2011 contract, covered about 60 percent of the price inflation observed between July 2008 and July 2011. The 47 cents per hour amounts to $37.60 per pay period, and it takes effect in Pay Period 20, which begins Sept. 10 (pay date Sept. 30).