US Postal Service Raises Stamp Prices

Photo by Ali Bakhtiari on Unsplash

(PartiallyPolitics.com) – In 2024, the cost of sending mail via the U.S. Postal Service (USPS) is set to increase. The USPS has announced a new rate for the First-Class Mail Forever stamp, which will rise from 66 cents to 68 cents, effective January 21.

This adjustment applies to single stamps used for letters that weigh one ounce or less. However, the price for each additional ounce will stay at 24 cents.

The USPS cited ongoing inflationary pressures on operational costs and the lingering impact of a previously ineffective pricing model as reasons for this price hike. This increase is part of their effort to stabilize finances in line with their “Delivering for America” 10-year plan, as mentioned in their press release.

With approval from the Postal Service’s governors, the upcoming changes will result in an approximate 2% increase in the prices of various mailing services.

Additionally, the cost of mailing postcards, both domestically and internationally, will see a rise. International letter mailing fees will increase from $1.50 to $1.55. ABC News reports that package shipping rates are also expected to climb by nearly 6%.

This upcoming increase follows a previous hike in July, when stamp prices were raised from 63 cents to 66 cents. Despite these adjustments, the USPS reported a significant net loss of $6.5 billion for the fiscal year 2023, falling short of their goal to break even.

It’s important to note that stamps purchased before the rate increase can still be used after the prices go up, as indicated by the name “Forever stamps.”

Despite these changes, the USPS maintains that their rates remain among the most competitive globally.

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