The United States Postal Service (USPS) is proposing to raise the price of a first-class stamp to 73 cents, marking the fourth increase in less than two years. This move would also affect other forms of postage, including metered 1-ounce letters, international ounce-size letters, and postcards. If approved, these new prices will come into effect in July, pending final approval from the independent Postal Regulatory Commission.
The price hike proposal is part of the USPS’ 10-year plan called “Delivering for America,” aimed at transforming the organization into a self-sustaining and high-performing entity. The increase comes in response to a $6.5 billion net loss reported by the USPS in 2023, as well as declining revenue and lower usage of first-class mail. Postmaster General Louis DeJoy has warned customers to expect continued price hikes until the USPS reaches a more stable financial position.
While some customers, like New Yorker Jacqueline Pollen, find the proposed increase in postage prices “ridiculous” and out of reach, others, like Manhattan resident Albert Quiles, are resigned to accepting and adapting to the change. Despite the higher prices, a USPS survey from 2023 shows that stamp prices in the United States are still lower compared to many other countries, indicating that the postal service is trying to balance profitability with affordability.