If you like to send cards or pay bills by mail, you might want to stock up on stamps soon. The United States Postal Service (USPS) announced that it will increase postage rates later this month.
The following rates for domestic mailing services will increase.
- The postage for a 1-ounce letter going First-Class Mail will increase 3 cents, going from $0.55 to $0.58. There is no change to the rate for each additional ounce, which costs $0.20.
- The postage rates for a Metered Mail First Class Mail 1-ounce letter will increase 2 cents, from $0.51 to $0.53.
- The postage for a 1-ounce First Class Mail flat or large envelopes will increase by 16 cents, from $1 to $1.16.
- The postage rates for postcards will increase by 4 cents, going from $0.36 to $0.40.
- Rates for Certified Mail will increase by 15 cents, going from $3.60 to $3.75.
Rates for other special services will rise, too. For example, money orders will increase from $1.30 to $1.45 and return receipts will go from $2.85 to $3.05.
This postage rate increase affects mailing services and will not change shipping rates.
The increase is part of the USPS’s “Delivering for America” 10-year plan to achieve financial sustainability and service excellence. The Postal Service filed a notice with the Postal Regulatory Commission (PRC) requesting price changes on May 28, 2021.
Over the past decade, mail volume has declined by 46 billion pieces, which translates to 28%, and the volume is only continuing to decline. First-Class Mail volume has dropped 32%, and single-piece First-Class Mail volume, such as letters with postage stamps, has declined a whopping 47%.
USPS reports that it has “not had sufficient pricing authority to respond to changing market realities” for the past 14 years. Other challenges have included a growing number of delivery points and increased labor and retirement costs, all of which are unlike those of an average company.
The latest price changes will take effect on Aug. 29, 2021.