USPS Raises Stamp Prices Again With Record-Tying Increase

Saying the increase was needed for the agency's "financial health," the US Postal Service announced this week the price of a regular first-class stamp will rise another five cents beginning July 14.

 USPS says our stamp prices are still among, if not the lowest, in the world

Authorities said the increases were necessary, according to Fox News:

"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 USPS said. Delivering for America is a 10-year restructuring plan that was announced in 2021 and aims to eliminate $160 billion in predicted losses."

Consumers have seen some of the biggest jumps in the last few years. A year ago in January, the price was $.63, then it went to $.66 in July, then in January of 2024 to $.68.

The five-cent hike ties the biggest-ever jump in stamp prices since they went from $.50 to $.55 cents in January of 2019.

Some of the restructuring and other financial plans designed to help USPS achieve better financial health have not accomplished the goal, according to Fox:

"However, while the USPS had hoped to break even in 2023 as part of the plan, it instead reported a $6.5 billion net loss for fiscal year 2023. The Postal Service said operating revenue fell $321 million, or 0.4%, to $78.2 billion compared to the same period last year, as first-class mail fell to the lowest volume since 1968."