The United States Postal Service has increased the price of stamps.
Beginning Sunday, the price of a first-class mail “forever” stamp will increase from 63 to 66 cents. The change come as a result of approved mailing price adjustments by the Postal Regulatory Commission earlier this year, in response to the USPS’s request. The USPS cited the need for additional funds, partially due to elevated inflation rates.
“As operating expenses fueled by inflation continue to rise. And the effects of a previously defective pricing model are still being felt. These price adjustments are needed to provide the Postal Service with much needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan,” the USPS said in April.
As part of the recent price adjustments, the cost of mailing a metered letter will increase from 60 to 63 cents. Additionally, customers sending postcards domestically will experience a slight increase, with the price rising from 48 to 51 cents. For international postcards and letters, the cost will go up from $1.45 to $1.50 per item.
In an attempt to counter the declining mail volume, the USPS has implemented a series of stamp price increases, totaling a 32% rise since early 2019. The objective behind these adjustments is to bolster the organization’s revenue. First-class mail volume reached its lowest point in 50 years last year, experiencing a decline of over 50% since 2006.
