The U.S. Postal Service is raising rates on first-class stamps, citing inflation and increases in operating expenses.
The price hike comes less than a year after the agency rose prices for first-class mail from 55 cents to 58 cents.
First-class mail Forever stamp will rise by two more cents to 60 cents. The change will take effect on July 10. The agency argues that the newly proposed price, which amounts to a 6.5% increase, is lower than the annual inflation rate of 7.9%.
The agency is also looking to raise prices for some of its special services products, including certified mail, Post Office box rental fees, money order fees and the cost to purchase insurance.
“With the new prices, the Postal Service will continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping,” the agency wrote in a news release.
The Postal Regulatory Commission will review the new rates before they take effect this summer.
Below are the the new proposed prices for each item:
- Letters (1 ounce): 60 cents, up from 58 cents
- Letters (metered 1 ounce): 57 cents, up from 53 cents
- Letters additional ounce: 24 cents, up from 20 cents
- Domestic postcards: 44 cents, up from 40 cents
- International letter (1 ounce): $1.40, up from $1.30
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