The U.S. Postal Service announced new price hikes set to take effect in early 2023.
USPS filed notice with the Postal Regulatory Commission (PRC) of price changes to take effect Jan. 22, 2023. The new rates include a three-cent increase in the price of a First-Class Mail Forever stamp from 60 cents to 63 cents. If favorably reviewed by the Commission, the proposed increases will raise First-Class Mail prices approximately 4.2 percent to offset the rise in inflation. The price changes have been approved by the Governors of the U.S. Postal Service.
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The price for 1-ounce metered mail will increase to 60 cents, and the price to send a domestic postcard will increase to 48 cents. A 1-ounce letter mailed to another country would increase to $1.45.
There will be no change to the single-piece letter and flat additional-ounce price, which remains at 24 cents. The Postal Service is also seeking price adjustments for Special Services products including Certified Mail, Post Office Box rental fees, money order fees and the cost to purchase insurance when mailing an item.
| Product | Current Price | Planned 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 |
USPS said the price increases are needed due to an increase in operating expenses. The PRC will review the changes before they are scheduled to take effect.
The Postal Service generally receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.