The United States Postal Service (USPS) has filed a notice with the Postal Regulatory Commission (PRC) to change mailing services prices, scheduled to take effect on July 9, 2023. The proposed adjustments include a three-cent increase in the price of a First-Class Mail Forever stamp, from 63 cents to 66 cents.
If the Commission approves the proposal, First-Class Mail prices will rise by around 5.4% to counter inflation. The Governors of the US Postal Service have already approved the price changes.
The planned price for 1-ounce metered mail is 63 cents, while domestic postcards will cost 51 cents. A 1-ounce international letter will increase to $1.50. The single-piece letter and flat additional-ounce price will remain unchanged at 24 cents. Additionally, the Postal Service is proposing price adjustments for Special Services products, such as Certified Mail, Post Office Box rental fees, money order fees, and insurance costs for mailed items.
The proposed Mailing Services price changes include:
Letters (1 oz.): From 63 cents to 66 cents
Letters (metered 1 oz.): From 60 cents to 63 cents
Domestic Postcards: From 48 cents to 51 cents
International Postcards: From $1.45 to $1.50
International Letter (1 oz.): From $1.45 to $1.50
These price adjustments are necessary due to increasing operating expenses caused by inflation and the impact of a previous flawed pricing model, USPS says. The changes will help USPS achieve financial stability as part of its Delivering for America 10-year plan.
The PRC will review the changes before implementation. Full details of the proposed price changes for all products can be found on the PRC website under the Daily Listings section at prc.gov/dockets/daily (Docket No. R2023-2) and on the Postal Service’s Postal Explorer website at pe.usps.com/PriceChange/Index.
This article, “US Postal Service Announces Proposed Mailing Services Price Changes” was first published on Small Business Trends