Price Hike From Postal Service Biggest Yet
A Price hike from the Postal Service (USPS) coming this summer is one of the biggest yet.
The cost of a First Class Forever Stamp is increasing five cents. That means starting July 14, it’s going to cost you 73 cents to mail a letter, bill, or anything weighing less than ounce.
A Forever Stamp, which was introduced in 2007, cost 41 cents then. A mere 7 years ago you could buy a stamp for 49 cents. By 2022, the price had increased to 60 cents. Fast-forward 4 years, and we’ll soon be looking at 73 cents for one stamp. Mailing a postcard domestically will increase 3 cents, to 56 cents. All told, the price hikes represent a roughly 7.8% increase in USPS prices.
The price hike will not affect two services however. There will be no increase in the price of renting a Post Office Box and the cost of postal insurance when mailing an item is actually going down 10%.
In an April 9 news release, the USPS announced it had filed notice with the Postal Regulatory Commission to raise prices for the second time this year, in July. Postmaster General Louis DeJoy has indicated he plans to continue the twice-a-year increase as part of his 10-year Delivering for America plan.
“As changes in the mailing and shipping marketplace continue, these price adjustments are needed to achieve the financial stability sought by the organization’s Delivering for America 10-year plans. USPS prices remain among the most affordable in the world,” according to the news release.
When is the Price Hike Scheduled to Take Effect
If you want to get stamps or send mail at the current price of 68 cents, you need to do so before July 14. Buying Forever Stamps now means the stamp will be good, as the name implies, forever, despite other price hikes.
You can buy stamps at any post office, the USPS website, or by calling the USPS at 844-737-7826.
