Prepare for another price increase from the United States Postal Service (USPS). Today, USPS filed with the Postal Regulatory Commission (PRC) its intention to implement a series of mailing services price adjustments (price increases). If favorably reviewed by the PRC, they are slated to take effect on January 21, 2024.
The proposed increases, which have received approval from the governors of the Postal Service, encompass a two-cent increase in the price of a First-Class Mail Forever stamp, raising it from 66 cents to 68 cents.
The proposed pricing adjustments are for flat pieces. A detailed breakdown of the planned prices compared to the current ones is as follows:
- Letters (1 ounce): From 66 cents to 68 cents
- Letters (metered 1 ounce): From 63 cents to 64 cents
- Domestic Postcards: From 51 cents to 53 cents
- International Postcards: From $1.50 to $1.55
- International Letter (1 ounce): From $1.50 to $1.55
On the positive side, the additional-ounce price will remain the same at 24 cents.
USPS Seeking More Price Changes
However, the USPS is exploring price adjustments for Special Services products, which include Certified Mail, Post Office Box rental fees, money order fees, and the cost to purchase insurance when mailing an item.
The proposed adjustments come in the wake of persistent inflationary pressures on operating expenses and the lingering impacts of a “previously defective pricing model.”
The USPS asserts that these price adjustments are pivotal in generating the revenue it needs for financial stability as outlined in its ‘Delivering for America‘ 10-year plan, currently in its third year.
Despite these adjustments, the Postal Service maintains its position that the new prices “remain among the most affordable in the world.”
Before the proposed changes are enacted, the PRC will undertake a full review, but typically they ‘rubberstamp’ these requests. The Postal Service price filing tables for this price adjustment are available here.
There is no word yet on parcel price increases and while the Postal Service offered a small gift to shippers by not implementing a peak season surcharge this year, price increases on parcel products are expected as well. Stay tuned.
Subscribe to Our Newsletter
We do not sell your information.
You can unsubscribe at any time.
Head over to our Facebook Group for Small Business Marketplace Sellers and interact with us and other small business owners. Follow us on Facebook, Twitter, or LinkedIn to stay up to date with relevant news and business insights for your online business.