...
By Aliss Higham
Reporter
0
Share
Newsweek is a Trust Project member
See more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.
The United States Postal Service (USPS) is planning to increase prices in July, according to a press release that was published on Wednesday.
Why It Matters
The agency serves nearly 169 million addresses in the U.S., delivering more mail and packages than any other postal service in the world, according to the USPS website. But stamp prices have increased continuously in recent years in an effort to get the agency's finances on track.
Read More on News
What To Know
The USPS announced on April 9 that it has filed notice with the Postal Regulatory Commission (PRC) of mailing services to make price changes, a 7.4 percent increase, to take effect on July 13.
The change, if approved, would raise the price of a First-Class stamp from 73 cents to 78 cents. The additional-ounce price for single-piece letters will increase from 28 cents to 29 cents.
The cost of sending an international letter or postcard would rise from $1.65 to $1.70. Postcards sent within the U.S. would rise by 6 cents, from 56 to 62 cents.
The request was submitted to the PRC on Wednesday and requires its approval.
The last hike in letter and postcard prices was in July 2024 when the rate was boosted to 73 cents up from 68 cents. Since August 2021, First-Class mail has increased in price six times.
The USPS has faced financial difficulties in recent years and introduced a 10-year "Delivering For America" plan in 2021 to stabilize its finances.
In the fiscal year ending September 2024, it reported a $9.5 billion loss, up from a $6.5 billion net loss in 2023.
In 2024, the postal service generated $25.4 billion from stamp sales and $32.2 billion from shipping and packages—its two largest revenue sources, which together accounted for more than half of its total revenue. Both have already seen price hikes in recent years as part of efforts to stabilize USPS finances.
The USPS does not receive tax dollars for operating expenses and relies on the sale of postage, products and services in order to fund its operations.
The future of the USPS also hangs in the balance, with President Donald Trump indicating he may be in favor of privatization. Several lawmakers have introduced a bipartisan bill in the Senate to "support the independence and critical public service mission" of the USPS, with its sponsors saying that current plans could "increase costs."
...
What People Are Saying
The USPS said in the announcement: "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."
What Happens Next?
The changes, if approved, will come into force on July 13.
View 0 Comments
Submit Correction
View Editorial & AI Guidelines