(NEXSTAR) — A standard first-class stamp currently costs 73 cents, but that price could rise fivefold within the next three years.
The United States Postal Service has proposed increasing the price of postage stamps. document It was submitted to the Postal Regulatory Commission on Monday.
Price increases are scheduled to begin in July 2025, with additional increases occurring in January and July of each year until the end of 2027. The agency said the adjustments were necessary to meet its “legal obligation to become financially independent.”
All price changes must be approved by the Postal Service Board of Directors.
During this time, customers will be temporarily suspended from “Stampflation.” USPS announced This week, the agency announced it would not increase stamp prices in January 2025, following a recommendation from Postmaster General Louis DeJoy.
“Our strategy is working and expected inflation is declining, so we will wait until at least July to propose increases in market-dominant services,” DeJoy said in a statement.
USPS also said it “remains committed to continuing cost-cutting measures and keeping our products and services affordable.”
Back in July, the price of a Class 1 stamp jumped from 68 cents to 73 cents, the biggest increase since 2019. The USPS has been steadily raising postage rates in recent years, with stamp prices up 46% since the beginning of 2019. It was 50 cents USPS data is shown.
Despite a series of increases, U.S. stamp prices were still lower than many other developed countries, including Canada and the United Kingdom, as of early 2023, according to the rankings. USPS Office of Inspector General.
