July Postal Rate Increases; What Consumers Need To Know

Photo byTrinity Nguyen via Unsplash

Before July is over, postal rates will be a bit higher than when the month began.

The United States Postal Service (USPS) first made its latest price adjustment announcement in April, 2024; the second time the USPS has raised the cost of postage this year. The new rates, approved by the governors of the Postal Service, raise mailing services prices by 7.8 percent.

Included in the increase are “Forever” stamps. Beginning next week, these stamps will be 73 cents – an increase of a nickel.

Fast “Forever Stamp” Facts from the USPS:

The first Forever Stamp went on sale in April 2007 and it featured an image of the Liberty Bell. In 2011, all first-class one ounce stamps became forever stamps.

As the name suggests, Forever Stamps can be used to mail a one-ounce letter regardless of when the stamps are purchased or used and no matter how prices may change in the future.

Forever Stamps are always sold at the same price as a regular First-Class Mail stamp.

The value of the Forever Stamp is the domestic First-Class Mail letter price in effect on the day of use.

Other postage options are also included in the latest rate increases. Mailing a postcard domestically will increase by 3 cents to 56 cents, and the price of mailing postcards and letters internationally will be raised by a dime to $1.65.

In the April announcement, USPS noted, “As changes in the mailing and shipping marketplace continue, these price adjustments are needed to achieve the financial stability sought by the organization’s Delivering for America 10-year plan. USPS prices remain among the most affordable in the world.”

USPS generally receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.

At this time, there will be no price increase for Post Office Box rentals, and there will actually be a price reduction of 10 percent for postal insurance when mailing items.

The new postal rates will take effect July 14, 2024.