The United States Postal Service announced its plans to raise the prices. The change will take effect on July 10. The price hike will increase the cost of First-Class Mail by 6.5%, and a Forever stamp will rise from 58 cents to 60 cents. See the table below for a complete list of changes.
|USPS Product||Current cost||Cost after July 10|
|Letters (1 oz.)||58 cents||60 cents|
|Letters (metered 1 oz.)||53 cents||57 cents|
|Letters (additional ounces)||20 cents||24 cents|
|Domestic postcards||40 cents||44 cents|
|International letters (1 oz.)||$1.30||$1.40|
The price hike, which raises the cost of First-Class Mail by 6.5%, is still lower than high inflation rates, the Postal Service said. The cost of all goods is up 8.6% over the past year, according to the Bureau of Labor Statistics.
USPS Press Release, July 2022