! The Cost of Sending Letters Just Increased Again!

USPS raises stamp prices to 63 cents, 5% increase due to rising expenses and losses. Price hikes also affect domestic postcards and overseas letters. The Postal Service aims to achieve financial stability through its Delivering for America 10-year plan. Price increases expected twice a year through 2024.”

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Sending letters in the United States and abroad just became a little more expensive, as the price for first-class Forever stamps has risen to 63 cents from 60 cents last month, a 5 percent increase resulting from the Postal Service’s rising operating expenses and losses.

The change went into effect on Sunday, and was first announced in October. Other prices also increased, including the prices for one-ounce metered mail (now 60 cents, up from 57 cents) and domestic postcards (now 48 cents, up from 44 cents). The cost of sending a one-ounce letter overseas also rose to $1.45 from $1.40.

According to the Postal Service, these price adjustments are necessary to reach the financial stability it seeks through its 10-year plan “Delivering for America”. The agency projected $160 billion in losses over the next 10 years and hopes to mitigate these losses through these price increases.

The last price increase was in July 2021, when the cost of a first-class stamp rose to 60 cents from 58 cents. Prior to this, the stamps cost 55 cents.

Customers can expect to see more price increases at least twice a year until 2024, according to the Postal Regulatory Commission. They will be implemented in January and July each year.

The Postal Service noted that it does not receive tax funding and instead relies on the sales of postage, products, and services to fund its operations.

Despite the rise of electronic communication and digital media, people still rely on traditional mail. The Postal Service reported delivering 13.9 billion pieces of first-class mail (letters, cards, and bill payments) in 2021, though this is a decrease from the 23.2 billion delivered in 2012. Forever Stamps, first introduced in 2007 with an image of the Liberty Bell, remain valid regardless of price increases. Since 2011, all first-class stamps have been Forever Stamps.

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