The U.S. Postal Service has announced plans for a price increase on mailing services, which could take effect on July 12 pending approval from federal regulators. This proposal, revealed on April 9, includes a rise in the cost of a First-Class Forever stamp from 78 cents to 82 cents.
In addition, the price for a metered one-ounce letter would increase from 74 cents to 78 cents, while domestic postcards would see a jump from 61 cents to 65 cents. For international mail, both postcards and one-ounce letters would rise from $1.70 to $1.75. The cost for each additional ounce of a single-piece letter would stay at 29 cents.
The Postal Service indicated that these increases are necessary to combat a significant financial crisis and escalating operating expenses. The agency noted that it typically does not receive tax funding for its operations and depends on postage sales and services to sustain itself.
The proposed price changes are subject to review by the Postal Regulatory Commission, which oversees the rates of the Postal Service. If approved, this would mark another increase in a series of adjustments aimed at stabilizing the Postal Service's finances as part of a long-term restructuring plan.
