A 7.8 percent price increase for stamps that will become effective in July has been suggested by the U.S. Postal Service ( USPS).
The Postal Regulatory Commission has issued a notice to raise the prices of different stamps by up to ten percent, according to a media release from the services on Tuesday.  ,
A common one- ounce letter initial- class stamp may today cost 73 cents, rather of 68 cents. Domestic postcards went from 53 cents to 56 cents, and international postcards and letters have gone from$ 1.55 to$ 1.65.
The proposed boost, which the rulers of the USPS have previously approved, is set to appear on July 14 after being reviewed by the committee.
The federal mail service noted that the changes would “raise mailing services product prices]by ] approximately 7.8 percent”.
This may result in the USPS’s fifth rate increase on email items since 2020, according to Federal News Network writer Jory Heckman.
NEWS: USPS is asking its regulation for its sixth rate increase on monopoly message products since 2020. A primary- group Forever mark would go from 68 to 73 percent. Higher charges, if approved, come into impact July 14. photograph. twitter.com/halFJkDHCk
— Jory Heckman ( @jheckmanWFED ) April 9, 2024
The Postal Service is also requesting rate changes for Specific Services products, including those for certified mail and money orders, the company added. Notably, the Postal Service will use a 10 % cost reduction for postal plan when sending an item, and there will be no additional fees for the rental of Post Office Boxes.
According to the USPS,” these price adjustments are necessary to achieve the organization’s Offering for America 10-year plan’s monetary stability.”
The ten-year reform plan was unveiled in 2021 with the aim of eradicating the$ 160 billion in projected costs that had been predicted by 2030.
In a recent press release, the company stated that” Postal rates remain among the most economical in the world.”
In November 2023, the USPS reported a$ 6.5 billion online loss for the past governmental time,” as initial- course mail fell to the lowest level since 1968″, according to Newsmax.
The shop added that over the past four years, the cost of passports has increased by 50 %. In first 2019, stamps cost only 50 percent each.
