USPS Proposes Increasing Stamp Prices to 73 Cents Each

The U.S. Postal Service is seeking to increase stamp prices this summer, proposing to the Postal Regulatory Commission this week that the price of First-Class Mail stamps jump from 68 cents to 73 cents each. If approved, the change would go into effect on July 14th. Percentage-wise, the proposed 5-cent increase would raise the price of a single Forever stamp by 7.8%.

USPS Seeks to Raise Prices of Other Mailing Products

USPS didn’t propose to increase just the price of First-Class Mail stamps. If the Postal Regulatory Commission approves the change, the 7.8% price increase would apply to the following mailing products:

• Forever stamps (used for domestic First-Class Mail pieces): 73 cents, up from 68 cents
• Metered letters (1 oz): 69 cents, up from 64 cents
• Postcards: 56 cents, up from 53 cents
• International postcards: $1.65, up from $1.55
• International letters (1 oz): $1.65, up from $1.55
• Additional-ounce stamps for letters: 28 cents, up from 24 cents

In a press release detailing the proposed changes, USPS noted that “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.”

The Postal Service States that the Proposed Price Increase Will Help With Financial Sustainability

In the same press release cited above, USPS said the following:

“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.”

The Postal Service’s 10-year Delivering for America plan—published on March 23rd, 2021—seeks to boost the agency’s financial sustainability. In the plan’s details, USPS projected it would “operate with a positive net income beginning in 2023 or 2024 and realize break-even operations over the next ten years” as a result of implementing the plan’s strategies.

In 2023, USPS operated at a net loss of $6.5 billion, as cited in the agency’s fiscal year 2023 results.

Tracking the Recent History of Price Increases for Stamps

The last price increase for First-Class Mail stamps took place in January of this year, boosting the price of First-Class Mail stamps to 68 cents from 66 cents each. It was the Postal Service’s third price hike for stamps in 12 months.

Before January, USPS increased stamp prices in July 2023, January 2023, and July 2022.