HomeBusinessU.S. Postal Service rate increases take effect Sunday

U.S. Postal Service rate increases take effect Sunday

The next time you mail through the United States Postal Service (USPS), it will cost you more.

The USPS rate hike, raising first-class mail prices by 6.5%, went into effect Sunday, according to the agency. When the USPS made its announcement in April, it noted that the 6.5% increase would still be lower than inflation, which sits at a rate of 8.6%.

However, this likely won’t be the USPS’ last increase.

In May, Postmaster General Louis DeJoy said Americans would have to get used to “uncomfortable” increases in postage rates in the coming years as the U.S. Postal Service seeks to become self-sufficient.

US POSTAL SERVICE SLOWS NEARLY A THIRD OF FIRST CLASS PACKAGE DELIVERIES

The Postal Service Board of Governors sets postage rates, but DeJoy said he would advocate for higher prices until “we have achieved our goal of projecting a trajectory that shows we are self-sustaining.”

USPS employee at the facility

Fox took a peek at a USPS fulfillment and distribution center in Dulles, Va., as Americans rush to get last-minute gifts in the mail. (FNC/Fox News)

This goal is defined in the USPS’s 10-year plan, Delivering for America. Under this plan, the USPS is striving to break even by fiscal year 2023 and avoid $160 billion in projected losses over the next 10 years.

Price adjustments taking effect Sunday “will help implement the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next 10 years,” according to the USPS. .

Here are the price changes, according to Stamps.com, which is a vendor independent of the USPS.

  • The first-class (1 oz) letter rate for postage purchased at the post office: Increase by 2 cents to $0.60. Each additional ounce will cost $0.24.
  • The “Metered Mail” rate for First Class Mail letters (1 oz): Increase of four cents to $0.57.

USPS PLACES $3 BILLION ORDER FOR 50,000 NEW DELIVERY VEHICLES INCLUDING 10,000 ELECTRIC TRUCKS

  • First Class Flat Letters/Large Envelopes (1 oz): Increase of four cents to $1.20. Each additional ounce will cost $0.24.
  • First Class Mail International (1 oz.): Increase of ten cents to $1.40.
Priority mail to USPS

Detailed view of the USPS logo on a piece of priority mail. (Brett Carlsen/Getty Images/Getty Images)

  • Postcards: Increase of four cents to $0.44.

CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS

  • First Class Mail International (1 oz.): Increase of ten cents to $1.40.
  • Certified Mail: increased twenty-five cents to $4.00.
  • Media Mail: 9% increase to $3.49.

The Associated Press contributed to this report.

Must Read