Thanks to inflation, customers will have to pay more to send mail through USPS.
It was reported on Sunday that the USPS raised first-class mail prices by 6.5%. The agency noted when it announced the rate hike in April that the 6.5% increase would still be below inflation, which stands at 8.6%.
However, the USPS is probably not done raising prices.
In May, Postmaster General Louis DeJoy warned that while the US Postal Service strives to become self-sufficient, Americans should prepare for “uncomfortable” postal rate rises in the years to come.
While the Board of Governors sets postage rates, DeJoy plans to advocate for price increases until “we have accomplished our objective of projecting a trajectory that shows us being self-sustaining.”
As part of USPS’s 10-year plan, Delivering for America, the USPS aims to break even by 2023 and avoid $160 billion in projected losses.
The USPS claims that the price changes going into effect on Sunday “will help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next ten years.”
The USPS price changes are as follows:
- The first-class mail (1 oz.) letter rate for postage purchased at the post office: increased two cents to $0.60. Each additional ounce will cost $0.24
- The “metered mail” rate for first-class mail (1 oz.) letters: increased four cents to $0.57
- First-class mail flats/large envelopes (1 oz.): increased four cents to $1.20. Each additional ounce will cost $0.24
- First-class mail international (1 oz.): increased 10 cents to $1.40
- Postcards: increased four cents to $0.44
- First-class mail international (1 oz.): increased 10 cents to $1.40
- Certified mail: increased by 25 cents to $4.00
- Media mail: increased by 9% to $3.49
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