Starting on July 14, the United States Postal Service will be increasing the prices of its services, including first-class Forever stamps which will rise from 68 cents to 73 cents, a more than 7% increase. This is part of the USPS 10-year “Delivering for America” plan aimed at stabilizing the Postal Service financially. The plan was introduced in 2021 when Forever stamps were just 55 cents. The price hikes are expected to generate an additional $44 billion in revenue by 2031.
In addition to the price increase for Forever stamps, the cost of additional ounces for single-piece letters will rise to 28 cents from 24 cents, while post office box rental fees will remain the same. The price of international postcards and international 1-ounce letters will also increase by 10 cents each, going from $1.55 to $1.65.
Overall, prices for all USPS services will rise by over 7.5%. The changes are necessary in order to help the Postal Service financially, as first class mail accounted for over 30% of postal revenue in 2023. Despite the price increases, the cost of postal insurance will decrease by 10%.
These price changes highlight the continued effort by the USPS to maintain financial stability and adjust its services in response to changing market conditions.
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