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Postal Service to increase stamp prices again in 2024 due to ‘inflationary pressures’

The cost of sending postal mail is about to rise again. The U.S. Postal Service has announced that it may raise stamp prices for the second year in a row in 2024, citing inflationary pressures.

If approved by the Postal Regulatory Commission, the changes would go into effect on January 21, 2024. The new fees include a 2-cent increase in First Class Mail Forever stamps, among other proposed changes.

If the price change is approved by the Postal Service’s governors, service prices will increase by approximately 2%, USPS said. mentioned in the presentation.

“As inflationary pressures on operating expenses continue and the effects of the previous flawed pricing model are still being felt, we need to provide much-needed revenue to the Postal Service and provide the financial support required by Deliveries to America 10. These price adjustments are necessary to achieve stability in the annual plan,” USPS said in a statement.

Last year, the USPS announced it would increase fees to address rising operating costs. The previous price hike increased prices by about 4.2%.

Perpetual stamps get their name because they are accepted by the USPS forever, regardless of when they were purchased. If you have already purchased at the current low price, you will continue to receive your purchase after the price change. It also means you can buy and get accepted now, before the expected increase in 2024.

Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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