Postage stamp prices are on the rise and will increase by another 2 cents starting Sunday.
Why it matters: The U.S. Postal Service’s third rate hike in 12 months will push the price of a first-class stamp up to 68 cents.
The Postal Service said in a statement that the price adjustments are needed as “inflationary pressures on operating expenses continue.”
Rates last went up in July 2023. Before that, they rose in January 2023 and July 2022.
Between the 1970s and 2000, rates increased three to four times a decade, USPS data shows.
Zoom in: The number of pieces of mail handled by the post office has been on the decline in recent years as more people pay bills online and fewer send physical thank you cards.
In 2022, USPS handled 127.3 billion pieces of mail compared to the high of 213.1 billion in 2006, data shows.
The Postal Service said in November that it projected a net loss of $6.5 billion for its fiscal year.
Sunday, Jan. 21 is the day the first day of the increase and postage for a 1-ounce letter increases to 68 cents, up from 66 cents.
Other increases are:
Metered 1-ounce letters move to 64 cents, up from 63 cents.
Postcards sent domestically are 53 cents, up from 51 cents.
International postcards and 1-ounce letters will be $1.55, a 5-cent increase.
Costs to send a letter by certified mail and insure packages will also increase.
Since 2011, all first-class commemorative stamps have been issued as Forever stamps.
Be smart: Before the July increase, many Axios readers shared that they planned to stock up on Forever stamps to save money by locking in current prices.
