![]() The increase in First-Class Mail postage is needed to offset the rise in inflation, the postal service said in October when it announced the price hikes. As its name implies, you can use a Forever stamp regardless of what price you paid for it or when you bought it. Are Forever stamps still good for postage? The price hike goes into effect on Sunday, Jan. When does the postage increase take place? The price of a First-Class Mail Forever stamp will increase to 63 cents from 60 cents. How much does it cost to mail a letter in 2023? Even with the passage of the act, the USPS expects to lose $110 billion over the next decade, DeJoy said. In May 2022, DeJoy said he expected the Postal Service to continue to raise prices "at an uncomfortable rate" until the agency becomes self-sufficient.ĭeJoy’s remarks followed the passage and signing into law of the Postal Service Reform Act of 2022, legislation designed to bolster the agency facing increased competition and financial challenges, including 14 straight years of net losses, USA TODAY reported. Postal Service raised the cost of a Forever stamp to 60 cents – a two-cent increase at the time – the service is raising the price to mail a letter another three cents, a move first forecast by Postmaster General Louis DeJoy last year. The cost to mail a letter, greeting card or bill payment is going up. Of course, if you are using previously purchased Forever stamps, you won't have to worry about that for now. The Postal Service generally receives no tax dollars for operating expenses and relies on the sale of postage, products, and services to fund its operations.Before dropping a bill payment or letter in the mailbox, know that the price of first-class postage is set to increase on Sunday, Jan. The USPS says the new prices will help it to continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping. ![]() The Postal Service Reform Act, which was passed with strong bipartisan support by Congress and enacted in April 2022, is supposed to generate $44.5 billion in expense reductions. The cost of all goods is up 8.6% over the past year, according to the Bureau of Labor Statistics.įorever stamp prices just increased less than a year ago, from 55 to 58 cents, and the USPS has hinted that prices are likely to continue to increase.Īs inflation and increased operating expenses continue, these price adjustments are intended to 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, according to the USPS. The price hike, which raises the cost of First-Class Mail by 6.5%, is still lower than high inflation rates, the Postal Service said. Letters (additional ounces) 20 cents 24 cents.Letters (metered 1 oz.) 53 cents 57 cents. ![]() USPS Product Current cost Cost after July 10: The following USPS price increases are also slated for July 10: So, if you like to save and you use a good amount of stamps, you may want to head to the Post Office quickly to stock up!įorever stamps aren’t the only thing going up at the post office. So, if you purchased a book of Forever stamps 10 years ago, and the stamps cost only 45 cents each, you can still use them to mail letters today, even with the forever stamps costing more now. If you’re a penny pincher, here’s a reminder that on Sunday July 10, The United States Postal Service is raising stamp prices on its Forever stamps from 58 cents to 60 cents, and increasing some other prices as well.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |