The United States Postal Service has proposed several rate changes that could come into effect in summer 2024.
These rate increases include the raising of a first-class stamp from 68 cents to 73 cents. The proposal overall accounts for a hike in all services from the household name by 7.3% of current charges.
U.S Postal Service increases rates
These changes will come into force from July 14, 2024, if they are approved by the Postal Regulatory Commission.
The postal icon says the submission of new prospective prices has been necessary "As changes in the mailing and shipping marketplace continue, these price adjustments are needed to achieve the financial stability sought by the organization's Delivering for America 10-year plan. USPS prices remain among the most affordable in the world."
The Postal Services' Delivering for America 10-year plan was announced on March 23, 2021, and set out the stall to effect the "transformation of the United States Postal Service from an organization in financial and operational crisis to one that is self-sustaining and high performing."
The modernization campaign is now in its second year and the institution has published retrospective documents on the progress in 2002 and 2023.
These changes are as follows:
- Letters (1 oz.) will increase from 68 cents to 73 cents
- Letters (metered 1 oz.) will increase from 64 cents to 69 cents
- Domestic Postcards will increase from 53 cents to 56 cents
- International postcards will increase from $1.55 to $1.65
- International Letter (1 oz.) will increase from $1.55 to $1.65
The Postal Regulatory Commission will review the rate changes which can be found on the commission's website under the Daily Listings section.
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