The US Postal Service (USPS) will increase its mailing service prices starting from July 14th (Sunday), according to the announcement made by USPS in April this year. The price of a First-Class Mail Forever stamp will increase by about 7%, with a 7.8% increase in overall mailing service product charges.
In a press release, USPS stated, “With the changes in the mailing and transportation market, these rate adjustments are essential for achieving the financial stability sought by the Postal Service’s ‘Delivering for America’ ten-year plan. The rates of the United States Postal Service remain among the most affordable in the world.”
The planned postage increases include: a 1-ounce letter going from 68 cents to 73 cents (a 7.35% increase); metered 1 oz. letters without stamps will also increase by 5 cents, rising from 64 cents to 69 cents. The domestic postcard rate will increase from 53 cents to 56 cents, and the rates for international postcards and 1-ounce international letters will increase from $1.55 to $1.65.
Furthermore, USPS will adjust the prices of specific service products, including registered mail and money order fees; the additional per-ounce charge for single-piece letters beyond the first ounce will increase from 24 cents to 28 cents. However, the rental fees for postal boxes will not increase, and the insurance fees for mailed items will be reduced by 10%.
According to USA Today, the price of Forever stamps was only 55 cents when the “Delivering for America” plan was introduced in 2021; by 2023, First-Class Mail accounted for over 30% of total postal revenue. With the new rates, the plan is expected to generate an additional $44 billion in revenue by 2030.