Stamp Price Increase Coming January 22, 2023 | Here’s What You Need to Know
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Another stamp price increase is on its way. Here’s what you need to know.
The price of a stamp is going up and will continue to go up every year.
The United States Postal Service is planning to increase the price of Forever Stamps from their current cost of 60¢ to 63¢ effective on January 22, 2023. In addition, USPS is proposing to increase the cost of metered letters, postcards, and international mail as detailed below. See this press release on the stamp price increase for more information.
Beyond that, the USPS has announced plans to raise the price of postage twice a year, every year continuing in January of 2023. 😱 You can expect the increases to take place around each January and July.
The USPS said the following about the stamp price increase:
It “intends to be judicious in the use of available pricing authority, but anticipates the prospect that, given our current financial condition, the price change for each market-dominant class may be required to apply most or all pricing authority available on the date of filing.”
If you think that statement sounds somewhat ominous, you’re not alone. An industry watchdog called The Alliance of Nonprofit Mailers declared this filing “a death spiral accelerator” for the USPS. It’s also warning its members, “We assume USPS will use the full pricing authority it has at any moment.” 😬
Which classes of mail will see the biggest postage increase?
The services that will be affected by these twice-a-year price hikes include first-class mail, marketing (advertising) mail, periodicals, package services, and special services. Linn’s Stamp News points out that many of these are services in which the USPS holds a monopoly.
So why is there a stamp price increase now?
In the past, inflation caps limited the USPS’s ability to raise the price of a stamp by keeping postage increases in line with inflation rates. But the Postal Regulatory Commission recently gave the agency additional rate authority. This means we may be about to see historical price increases while the Postal Service tries to save itself from financial ruin, so get ready for a huge postage increase.
Looking to save on shipping?
Not all shipping services are the same! If you’re wondering how to get the best deal on shipping, we prepared a handy cheat sheet for you! See our shipping cost comparison to know whether Fed Ex, UPS, or USPS best fits your needs. With inflation recently impacting shipping costs, choosing the right carrier can make a big difference!
Another way to save is to use Media Mail when eligible. Media Mail is a shipping service offered by the USPS and it can be used to send non-time-sensitive, educational materials. These can include items like books, educational references, CDs, DVDs, and more.
Check the USPS website for a full list of eligible items. Media Mail packages are subject to inspection by the Postal Service so you’ll want to ensure your items qualify or you risk receiving an additional charge.
If your items do qualify, you’re in luck! Media Mail prices are considerably lower than other services and start as low as $3.49. Just keep in mind that in exchange for the low price, Media Mail shipments take a little longer to be delivered. The current estimate is 2-8 business days.
If you ship packages frequently, consider joining the FedEx Rewards program to snag discounts of 15%-30% off your shipments. If you prefer UPS, the shipping service offers discounts to AAA and AARP members.
Stressed out by rising prices in grocery stores too? Here are some helpful tips to save at checkout!
This needs to go out to bid. I’ve said this for years. Totally out of control and think they can do what they want to do. Guarantee that stamps postage mailing etc will not be risen only when the American people can respond. That Postmaster and all workers will be held accountable for their job and how they do it