The Postal Service is planning another rate increase which would take effect this summer. If approved, the price hike would raise prices on shipping services as follows:
| Product | Current | Proposed | % |
|---|---|---|---|
| Letters (1 oz.) | 68 cents | 73 cents | 7.4 |
| Letters (metered 1 oz.) | 64 cents | 69 cents | 7.8 |
| Domestic Postcards | 53 cents | 56 cents | 5.7 |
| International Postcards | $1.55 | $1.65 | 6.5 |
| International Letter (1 oz.) | $1.55 | $1.65 | 6.5 |
The Postal Regulatory Commission will review the proposed price increases before they take effect. If approved, the new prices will go into effect on July 14, 2024.
USPS last increased prices in January 2024. This was the fourth price increase since July 2022. Since that time, stamp prices have gone from 60 cents to the current 68 cents, a 13% increase. Since January 27, 2019, stamp prices have risen 24%.
USPS says that the price increases are needed in order to meet the agency’s financial goals outlined in its Delivering for America 10-year plan. A summary of the plan says:
…our organization is in crisis. The Postal Service has recorded $87 billion in financial losses over the last 14 years and failed to meet service standards. Our business and operating models are unsustainable and out of step with the changing needs of the nation and our customers. Years of chronic underinvestment in our infrastructure and network have taken its toll on our performance and workforce.
USPS says in the plan that it will be investing $20 billion in its mail and package processing network, $19 billion in its retail and delivery network, and $2 billion in technology upgrades.
