How much are postage stamps at the post office

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WASHINGTON, Oct 7 (Reuters) - The U.S. Postal Service (USPS) said Friday it wants to raise the price of first-class Forever mail stamps from 60 to 63 cents to account for inflationary costs.

USPS filed notice of the proposed hike with the Postal Regulatory Commission and wants the increase to take effect Jan. 22. U.S. Postmaster General Louis DeJoy said in August that inflation would cause USPS costs to exceed its 2022 budget plan "by well over $1 billion."

There will be no change to the single-piece letter and flat additional-ounce price but other prices will rise including the cost of an international letter by five cents to $1.45.

Overall first-class mail prices will rise 4.2%, USPS said.

DeJoy has said USPS for years had failed to charge enough for package and mail delivery.

Struggling with diminishing mail volumes despite having to deliver to a growing number of addresses, the USPS reported net losses of more than $90 billion since 2007 until August when it booked a onetime, non-cash benefit of $59.6 billion after President Joe Biden signed financial relief legislation into law.

DeJoy released a March 2021 reform plan that aims to eliminate $160 billion in predicted losses over the next decade.

DeJoy said despite reforms losses would still reach $60 billion to $70 billion over the next 10 years -- and USPS must cut $35 to $40 billion in operating costs.

"I've got to use pricing," DeJoy said in July, adding he thinks mailers "got a deal for the last 10 years and we're charging them."

USPS raised prices in July of a first-class stamp from 58 cents to 60 cents after hiking stamps by 3 cents in August 2021.

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The rate hike is due partly to the Post Office's massive debt: The agency has an annual budget deficit of $1 billion.

The United States Postal Service is raising the price of stamps again in just a few weeks, for the second time in just six months. On Jan. 22, first-class stamps will go from 60 cents to 63 cents. 

Prices for international mail and metered letters will also go up, as will fees for post office boxes, money orders and other special services. 

The last increase, in July 2022, saw first-class stamps go from 58 cents to 60 cents. 

The National Postal Policy Council, a trade association for corporations that use stamped mail, called the back-to-back increases "unwelcome burdens."

But the UPSP says the new rates are "competitive." 

"Prices of the U.S. Postal Service remain among the most affordable in the world," the agency," the agency said in a statement in October. The Post Office is plagued by an annual budget shortfall of nearly $10 billion.

Here's what you need to know about stamp prices, including what the new rates are and what you can do to delay paying more. 

Read On: What's the Cheapest Way to Ship a Package: UPS, FedEx or USPS?

How much is the price of stamps increasing?

With the Postal Regulatory Commission approving the price hike in November, the cost of first-class mail will go up 4.2%.

First-class stamps will increase from 60 cents to 63 cents, while international letters and postcards will jump from $1.40 to $1.45.

Product

Current Price

Planned 2023 Price

Letters (1 oz.)

60 cents

63 cents

Letters (metered 1 oz.)

57 cents

60 cents

Domestic Postcards

44 cents

48 cents

International Postcards

$1.40

$1.45

International Letter (1 oz.)

$1.40

$1.45

When will the stamp price increase go into effect?

The price change for Forever stamps, postcards and other postage and shipping goes into effect on Jan. 22, 2023.

How can I save money on stamps before the price hike?

Forever stamps are always valid, regardless of when you purchased them or the price you paid. So buying Forever stamps in bulk before Jan. 22, 2023, means you'll avoid the price increase for as long as your supply holds.

You can buy stamps at online retailers like Amazon or directly at the US Postal Service website.

Are shipping rates increasing, too?

The price increase does impact packages, as well. Priority Mail commercial rates will increase by 5.5%, Priority Mail Express by 6.6% and First Class shipping by 7.8%.

These rates are still "well below the rate of inflation," according to the USPS. 

There is no price increase for Parcel Select Ground or USPS Connect Local, which allows businesses to offer same-day and next-day delivery for local customers. 

More detailed pricing can be found on the Postal Service's Postal Explorer website.

Domestic Priority Mail Flat Rate changes

ProductCurrentNewSmall flat-rate box$10.40$10.20Medium flat-rate box$17.05$17.10Large flat-rate box$22.45$22.80APO/FPO large flat-rate box$20.95$21.20Regular flat-rate envelope$9.90$9.65Legal flat-rate envelope$10.20$9.95Padded flat-rate envelope$10.60$10.40

Will the Post Office raise prices again?

It's definitely possible. The rate hikes are part of Postmaster General Louis DeJoy's 10-year Delivering for America plan, intended to chip away at the USPS' mammoth debt. The agency had $188 billion in debts and unfunded liabilities at the end of fiscal year 2020, the Government Accountability Office reported, mostly from underfunding of workers' pensions and retiree health care benefits.

The Postal Service generally receives no tax dollars for operating expenses, relying on the sale of postage, products and services to fund its operations.

DeJoy's plans include increasing postage rates, lengthening delivery times and reducing post office hours. In October 2021, the USPS started lengthening delivery times for about a third of its volume, meaning that letters, parcels and magazines that took two or three days can now take up to five to arrive.

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