Stamp prices go up tomorrow. Here’s how to avoid the raise

Stamp prices to rise again on Sunday, second in 2023 and third in last 12 months.

First class “forever” stamps ranged in price from 63 cents to 66 cents. he follows a jump 60 to 63 cents at the end of January And before that in July 2022 from 58 to 60 cents.

In a statement, the US Postal Service attributed the increase to inflation as well as what it previously called a “flawed pricing model”.

This will be the fifth increase in stamp prices since January 2019, when they were sold for 50 cents.

Here’s what you need to know about the increase, including why it’s happening, which products will be affected, and how to avoid paying more (at least for a while).

For more money tips, Find out how you can save on your car insurance and your internet bill.

How much will the stamp price increase?

On July 9, the price of a first class ticket increased from 63 to 66 cents, an increase of 4.6%.

There will also be an increase in other post office offerings.

usps is on the rise

product current price new price

Letter (1 oz)

63 cents

66 cents

Letter (measured 1 oz)

60 cents

63 cents

household postcard

48 cents

51 cents

international postcard

$1.45

$1.50

International Paper (1 oz)

$1.45

$1.50

Is there any change in shipping cost?

On July 9, the Post Office is also launching USPS Ground Advantage, a new shipping service intended to combine and replace existing offerings.

In fact, the new offering reflects a 3.2% drop in retail prices and a 0.7% drop in commercial prices, and includes free package pick-up and $100 insurance coverage.

USPS Ground Advantage “offers an easy, reliable and more affordable way to send packages to the mainland United States in two to five business days,” the agency said in a press release.

Details of pricing information can be found on the Postal Service’s Postal Explorer website.

Why do stamp prices keep rising?

According to the Government Accountability Office, the Post Office is burdened with more than $144 billion in debt and uncollectible liabilities. It does not receive tax money for operating expenses and relies on postage, products and services for funding.

While the Postal Service Reform Act, which was signed into law by President Joe Biden last year, included a $107 billion bailout, analysts say the USPS underestimated losses from marketing mailings and other sources .

Postmaster General Louis DeJoy’s ten-year plan, unveiled in 2021, predicted the agency would break even this year for the first time in nearly two decades. Now, exactly two years later, Dejoy has pushed that goal forward to 2030.

He acknowledged that the post office is likely to end the year with losses of at least $4 billion, after posting a net loss of $2.5 billion in the second quarter of 2023 alone.

By raising prices twice a year, the USPS is expected to generate an additional $44 billion by 2031, reports Reuters.

How to avoid overpaying for stamps?

You can avoid the price hike, at least temporarily, by purchasing Forever Stamps before July 9. Forever stamps are always valid, regardless of when they were purchased or what price was paid.

Forever Stamps are available from online retailers such as Amazon or directly from the US Postal Service website.

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