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Following the Aug. 19, 2014 release of the July Consumer Price Index (CPI), the fourth cost-of-living adjustment (COLA) for letter carriers under the 2011-2016 National Agreement is $686 annually.

This COLA was based on the increase in the CPI between January 2014 and July 2014. It amounts to 33 cents per hour.

Under the terms of the 2011-2016 agreement, payment of this fourth cost-of-living adjustment will take effect in the second full pay period after the scheduled Aug. 19 release of the July 2014 CPI—that is, Pay Period 20 (pay date Sept. 26).