No one seems to be safe from inflation, as the United States Postal Service (USPS) has announced that it will once again increase its stamp prices.
Starting Sunday, Jan. 22, the USPS will increase the price of some postage by 4.2 percent, which generally amounts to a few cents per stamp. The cost of a Forever stamp, for example, would go up 3 cents, from 60 cents to 63 cents.
2023 stamp price increases are about to kick in https://t.co/31FmPFQHbu pic.twitter.com/tTdOYLNs0B
— The Hill (@thehill) January 16, 2023
“These proposed prices were approved by the Postal Service governors,” the USPS said in a statement. “Notably, there is no price increase for Parcel Select Ground, which continues to be a reliable and economical shipping option. The pricing for USPS Connect Local will remain unchanged. This service provides businesses with an affordable same-day and next-day delivery for their local customers.”
Forever Stamps will still be accepted, regardless of when they are acquired. This means that if you already have any, even if you purchased them at a reduced cost, you can still use them to mail letters the following year and the year after. As a result, you can purchase stamps in large quantities now to avoid paying more after Jan. 22.
Additionally, the USPS is raising the price of Priority Mail by roughly 5.5 percent. Costs for First-Class Package Service will rise by 7.8 percent, while Priority Mail Express prices will rise by 6.6 percent. Commercial Priority Mail rates will also rise by about 3.6 percent.
“The Postal Service has some of the lowest letter mail postage rates in the industrialized world and also continues to offer a great value in shipping. Unlike some other shippers, the Postal Service has upfront pricing and does not add surcharges for residential delivery or regular Saturday delivery,” the agency continued.
USPS previously raised its prices, hiking the price of Forever Stamps from $0.58 to $0.60 in July, while the costs for domestic postcards and different letters modestly increased as well.
The agency has informed the Postal Regulatory Commission (PRC) of its plan to hike prices and has claimed that a huge factor in its upcoming price increases is the higher costs associated with doing business in general.
