As promised, the USPS is raising rates twice a year instead of once, and beginning July 10, 2022, it will cost more to mail a letter or send a package via Media Mail. The USPS characterized the change to First Class Mail rates as going up 6.5%.
The USPS is also raising rates for certain services, including Mailbox rentals (6.8% higher), and money orders (14.4% higher). In addition, the Postal Service is seeking price adjustments for insurance and for Certified Mail.
Today’s announcement impacts “market dominant” rates (letter stamps, First Class Mail, and Media Mail). The USPS has yet to announce new rates for “competitive” services including Priority Mail and First Class Package Service (FCPS) – stay tuned.
The price of a First-Class Mail Forever stamp will rise from 58 cents to 60 cents on July 10th. The single-piece letter additional ounce price will increase from 20 cents to 24 cents (making a 2-ounce letter rise from 78 cents to 84 cents)
The cost of sending a 1-ounce letter to other countries would increase to $1.40, up from $1.30.
In announcing the marketing dominant rate hike, the USPS said, “As inflation and increased operating expenses continue, these price adjustments will help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next ten years. With the new prices, the Postal Service will continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping.”
Details are available in today’s filing on the Postal Regulatory Commission’s website.
Note: We wrote about the rates that will most impact online sellers. OMG takes a look and says volume mailers will be hit hard, including marketers and publishers (check out the rate increase for periodicals).