Stamp Prices Set to Go Up Again in January
If you’re getting low on Forever stamps, you might want to stock up soon before the price goes up again.
The United States Postal Service (USPS) says consumers should expect price increases of around 2%, if the proposed price hikes are approved. If it seems like prices keep going up, they do. A January increase would mark the 6th time rates have increased since 2019. In fact, the last increase was just approved this past July.
Earlier this month, the USPS announced prices will likely increase again January 21, 2024.
A statement from the USPS says the proposed increases are attributed to “inflationary pressures on operating expenses and the effects of a previously defective pricing model.”
According to a report from the U.S. Government Accountability Office, the USPS has been losing money for more than 15 years. Officials say its expenses continue to grow faster than revenues. On top of that, mail volumes have been steadily falling in areas where the USPS typically sees the most profit.
Here are current prices versus the proposed increase:
Product: Current Price: New Price;
- Letters (1 oz) $.066 $.068
- Letters (metered 1 oz) $.063 $.064
- Domestic Postcards $.051 $.053
- International Postcards $1.50 $1.55
- International Letter (1 oz) $1.50 $1.55
This is a good time to stock up on Forever stamps at the current price for mailing one-ounce letters. The stamps are good, as the name implies, forever. The current price for a book of Forever stamps, which contains 20, is $13.20. If the new rate hike is approved, the price of a Forever stamp will be 24% higher than the January 2019 to Augusta 2021 price of $.055.
Another change to anticipate is the time it takes to receive mail. The Postal Service says it will increase time-in-transit standards by 1 or 2 days for certain mail that is traveling longer distances. Officials say that should help with greater consistency, reliability and efficiency for customers.
In a statement, the USPS said, “prices will continue to be among the most affordable in the world.”
