The cost of mailing a letter or bill could go up 3 cents this summer, if the Postal Regulatory Commission approves a new postage price hike as inflation hits the post office.
The U.S. Postal Service filed a notice Monday to increase mailing services prices, effective July 9. That means the cost of a First-Class Mail Forever stamp could increase 5.4%, from 63 cents to 66 cents.
While the proposed mailing services price adjustments would increase the cost to mail a 1-ounce letter from 63 cents to 66 cents, domestic postcards would also go up from 48 cents to 51 cents, with international postcards and letters climbing to $1.50.
The postal service also requested to raise prices on certified mail and post office box rental fees, as well as for money orders and postal insurance fees. It says it relies on postage and service fees to fund its operations and receives “no tax dollars for operating expenses.”
The U.S. Postal Service said the latest price increases have become vital due to high inflation and the ongoing effects of a defective pricing model. As the Governors of the U.S. Postal Service maintained that U.S. postal prices remain “among the most affordable in the world,” the price hikes are needed to increase revenue for financial stability if it is to meet its 10-year “Delivering for America” plan.
Last year, USPS requested a temporary postage price increase for the peak holiday mailing season from Oct. 2 through Jan. 22, to cover extra handling costs. The price hike applied mostly to packages and priority mail rates.
The U.S. Postal Service maintains a full list of commercial and retail postage pricing online.
Copyright 2023 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.
This content is published through a licensing agreement with Acquire Media using its NewsEdge technology.