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USPS Increases Stamp Price

Starting on January 22nd, the United States Postal Service (USPS) will raise the price of a Forever stamp from 60 to 63 cents and the price of a postcard stamp from 44 to 48 cents. They also will raise the price of letters sent internationally from $1.40 to $1.45. In August, Postmaster General DeJoy requested the need for a price increase because of inflation, and in October announced the price increase. The price increase intends to cover the recent inflation from the pandemic. According to Postmaster General DeJoy, inflation added 1 billion dollars to the USPS budget. The USPS relies almost entirely on the sales of postage, packaging, and other products to fund its services. The new prices will also help fund the 10-year Delivering for America plan, which turns USPS into a profitable organization; as of 2021, it lost almost 10 billion dollars. This plan will focus on strategic investments and improving performance. This increase also comes months after the USPS Reform Bill allowing the organization to create an online dashboard with performance data, give retired employees medicare benefits rather than USPS health care, and partner with local organizations. The bipartisan bill intended to help alleviate the USPS’s financial situation. In a speech before the signing, President Biden highlighted the importance of the USPS as a public service. This is not the first time in recent years that the price of postage has increased. The price of the Forever stamp pre-pandemic was 55 cents, which rose to 58 cents in August of 2021, then in July of the next year to 60 cents. Forever stamps can be used at any time, regardless of the original price point of postage when first purchased. The Forever stamps was brought about in 2007 as a solution to the rapidly changing postage prices, and by 2011 most of the stamps were considered Forever stamps. While the stamp price raise is only a few cents, the effect of it will ripple through in how Delivering for America will be implemented, and if there is a need for future price increases.


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Tags: United States inflation USPS stamps



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