Here are some examples of the fun: Media Mail – average increase of 7.5% 1st class stamp going up too; 4.8%
The U.S. Postal Service will soon be raising the price of its first-class stamps to 66 cents, an increase of 4.8% from its current 63 cents. The move, announced by the USPS in April, is the latest in a flurry of rate boosts that will result in the cost of a first-class stamp rising nearly one-third since 2019.
The latest hike will go into effect July 9. Under Postmaster General Louis DeJoy, the money-losing agency has embarked on a 10-year plan to get on a path to profitability — with higher postage rates as part of the blueprint.
The July 2023 price hike will represent the fifth increase since early 2019, when a Forever stamp cost 50 cents. The higher postage prices haven't come without criticism, however, with some postal experts pointing out that customers are paying more while getting less for their money.
That's because the 10-year plan has slowed the post office's delivery standard for mail to six days, down from its prior goal of three-day delivery to any destination within the U.S. And the series of price hikes means that the cost of a postage stamp has soared much higher than inflation, which has jumped 20% in the same period, according to the Bureau of Labor Statistics.
