By MELISSA CROCKETT MESKE
Price increases first announced by the U.S. Postal Service in April 2023 are scheduled to go into effect on July 9.
The Forever stamp, intended to be “good forever” as first-class postage, will now cost 66 cents a piece, reflecting a 3-cent increase from its previous price of 63 cents.
Earlier this year, in January 2023, the cost to send this same 1-ounce letter and “put a stamp on it” had just increased from 60 cents to 63 cents.
In addition to the increased cost of 66 cents for first-class postage, other increases include:
- Letters (metered 1-ounce): 63 cents, up from 60 cents
- Domestic postcards: 51 cents, up from 48 cents
- International postcards: $1.50, up from $1.45
- International letters: $1.50, up from $1.45
The USPS was also seeking price adjustments for Special Services products, including Certified Mail, Post Office Box rental fees, money order fees and the cost to purchase insurance when mailing an item, according to the official announcement.
Also noted in this announcement as to a “why” behind this second round of 2023 increases: “As operating expenses fueled by inflation continue to rise and the effects of a previously defective pricing model are still being felt, these price adjustments are needed to provide the Postal Service with much needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan.”
In April, the Postal Regulatory Commission was expected to review and approve the price increases before they took effect. They had already been approved by the Governors of the USPS.
This story also appears in the July 2023 print edition of the Illinois Business Journal.