The United States Postal Service (USPS) has announced a rate increase effective January 21, 2024. A First-Class Mail Forever stamp would now cost 68 cents instead of 66 cents under the revised prices, an increase of 2 cents.
USPS Rate Increase 2024 Chart
The proposed changes, authorised by the Postal Service governors, would result in a roughly 2 percent increase in the cost of products for postal services.
Chart of Key USPS Rate Increases (Effective January 21, 2024):
| Service | Previous Price | New Price | Increase |
| First-Class Mail (1 oz. stamp) | $0.66 | $0.68 | 2 cents (3%) |
| First-Class Mail (1 oz. metered) | $0.63 | $0.64 | 1 cent (1.6%) |
| First-Class Postcard | $0.51 | $0.53 | 2 cents (3.9%) |
| Additional Ounce (Letter/Flat) | $0.24 | $0.24 | No change |
| Priority Mail Flat Rate Envelope (Small) | $10.20 | $10.40 | 20 cents (1.9%) |
| Priority Mail Flat Rate Envelope (Large) | $22.80 | $24.75 | $1.95 |
| Priority Mail Parcel (Average) | N/A | +5.7% | N/A |
| Ground Advantage™ (Average) | N/A | +5.4% | N/A |
First-Class Mail Price Adjustments
The First class mail price adjustments effective January 21, 2024 are:
- Forever Stamps: Price increase of 2 cents (from 66 cents to 68 cents), representing a roughly 3% hike.
- Metered Mail: Slightly smaller 1-cent increase for 1-ounce letters (from 63 cents to 64 cents), translating to approximately 1.6% rise.
- Postcards: Two-cent bump for first-class postcards (from 51 cents to 53 cents), equating to a roughly 3.9% increase.
- Additional Ounces: No change in the cost per ounce for additional weight in both letters and flats (remains at 24 cents).
Priority Mail Rate Adjustments
The priority mail rate adjustments effective from January 21, 2024 are:
- Flat Rate Envelopes: All sizes experience price increases ranging from 20 cents to $1.95, representing hikes of approximately 2-4% depending on the envelope.
- Priority Mail Parcels: Prices for parcels based on weight and destination zone have increased by an average of 5.7%. This means the exact increase will vary depending on your specific shipment.
- Overall Increase: Compared to previous rates, Priority Mail services now cost an average of 5.7% more.
Other USPS Service Adjustments
The Other USPS Service Adjustments effective from January 21, 2024 are:
- Ground Advantage™: Domestic shipping within the contiguous United States sees a 5.4% average price increase.This could mean slightly higher costs for sending heavier or bulkier packages.
- Priority Mail Express®: The fastest delivery service witnesses a 5.9% average price hike. If you require urgent shipments, be prepared for slightly higher costs compared to before.
- Special Services: Some special services have also seen adjustments, including:
- Certified Mail: Expect a slight increase in the fee for sending certified mail to ensure delivery confirmation.
- Post Office Box Rentals: Rental fees for post office boxes may have changed depending on your location and box size.
- International Mail Insurance: The cost of adding insurance to international packages may have increased slightly.
What is the reason behind the USPS rate increase in 2024?
Some of the key reasons behind the USPS rate increase in 2024 include:
- Inflationary pressures: The USPS is facing increased costs due to inflation, which is affecting the prices of goods and services needed to operate the Postal Service.
- Operating expenses: The Postal Service is seeking price adjustments for Special Services products, including Post Office Box rental fees, money order fees, and the cost to purchase insurance when mailing an item.
- Revenue generation: The USPS needs additional revenue to maintain its operations and provide the necessary services to its customers.
- Declining mail volume: The volume of traditional mail sent through the USPS has been steadily declining as more people communicate electronically.
- Investment in infrastructure and technology: The USPS is investing in new technologies to improve efficiency and service, such as automated sorting machines and package delivery drones.
What is the impact of the USPS rate increase on international shipping?
The impact of the 2024 USPS rate increase on international shipping is multifaceted and depends on several factors:
Direct impact:
- Price hike for international letters and postcards: The cost of sending a 1-ounce letter or postcard internationally increased by 5 cents ($1.50 to $1.55). This represents a roughly 3.3% increase, which directly affects small package shipments.
- Potential price adjustments for other international services: While not explicitly mentioned in the January 2024 rate announcement, the USPS may implement additional price adjustments for specific international services.
- Impact on small businesses and individuals: Increased international shipping costs can affect small businesses that rely on exports or individuals sending packages overseas.
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