U.S. Postal Service seeks a 7.8% rate hike this summer

On Tuesday, the U. S. Postal Service filed notice with the Postal Regulatory Commission of mailing services price changes to take effect July 14, 2024. The new rates include a 5-cent increase in the price of a First-Class Mail Forever stamp from 68 cents to 73 cents.

The proposed adjustments, approved by the governors of the Postal Service, would raise mailing services product prices approximately 7.8 percent. If favorably reviewed by the commission, the price changes would include: Product Current Planned Letters (1 oz.) 68 cents 73 cents Letters (metered 1 oz.) 64 cents 69 cents Domestic Postcards 53 cents 56 cents International Postcards $1.55 $1.65 International Letter (1 oz.) $1.55 $1.65 The additional-ounce price for single-piece letters increases from 24 cents to 28 cents. The Postal Service is also seeking price adjustments for Special Services products, including Certified Mail and money order fees. Notably, there will be no price increase for Post Office Box rental fees, and the Postal Service will apply a price reduction of 10 percent for postal insurance when mailing an item.

According to the Postal Service, 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.

The commission will review the changes before they are scheduled to take effect. The complete Postal Service price filing, with prices for all products, can be found on the commission’s website under the Daily Listings section. The Mailing Services filing is Docket No. R2024-2. The price tables are also available on the Postal Service’s Postal Explorer website at pe.usps.com/PriceChange/ Index.