A USPS price hike takes effect on January 21, 2024, with the cost of stamps and other mailing services rising. This marks the fifth price hike in three years. the new rates include a 2-cent increase in the price of a First-Class Forever U.S. Postage Stamp, to 68 cents, from 66 cents previously. Additional price increase information can be found below.
U.S. Post Office 2024 price increases for mailing services
USPS rates will go up beginning on January 21, 2024. The new rates include a two-cent increase in the price of a First-Class Mail Forever stamp, with the fee going up to 68 cents from 66 cents.
The other price changes include:
Postal Commissions receives pushback on rate hikes during hearing
A number of so-called "interested parties" ranging from the Greeting Card Association to Pitney Bowes raised concerns about the proposed price increases with the U.S. Postal Regulatory Commission during a hearing last year, according to a report provided by David P. Coleman, senior PR rep for the USPS.
Those opposed to the price hikes cited the impact on commerce that higher prices might have. The National Postal Policy Council stated that "the proposed price increases are unnecessary and will merely accelerate the exodus of mail from the system." The council added that “twice-a-year price increases create a lack of trust in the Postal Service, undermine its reputation as a vendor, and create the impression that the Postal Service is trying to extract the maximum amount of revenue from mailers.”
However, the impact of price increases was dismissed by the Commission, noting that "these concerns are outside the scope of this proceeding” and that “the Commission’s review in this proceeding is limited to ensuring the proposed prices comply with the requirements” and to evaluating whether the proposed changes comply with applicable statutes and regulations.
The U.S. Post Office has been raising rates of late to combat with what it says is "Inflationary pressure" caused by rising interest rates and a slower-growth environment.
