U.S. Postal Service Announces Price of Stamps Going Up…Again
Here's a question that we can bet most of you don't know the answer to: "What's the price of a U.S. stamp?"
We'll answer that in a bit. But, whatever it is, it's going up again.
The increase should not come as a surprise as Postmaster General Louis DeJoy said in August that increases would be necessary to keep up with costs. It was reported that inflation was expected to add $1 billion to the Postal Service's operating budget.
How much are stamps going up?
The cost of a Forever stamp will be going up by 3 cents, from 60 cents to 63 cents. The price of Forever stamps just increased in July from 58 cents to 60 cents.
Just a year ago, stamps cost 55 cents.
Of course, Forever stamps (as the name suggests) will be accepted in perpetuity so if you will send a lot of mail in the future, stock up before January and save a few pennies.
What about postage for other mail sent through the USPS?
Yep, as mentioned earlier, other things will be going up. The chart below shows some of those price changes coming up in early 2023.
“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,” said the USPS, however they didn't specify how much more expensive those items will be.
The plan to increase postage is still not quite fully ratified. The Governors of the U.S. Postal Service have approved the hike but now it's up to the Postal Regulatory Commission to review the proposal and give it the ok.