The USPS Is Increasing Prices July 10th, 2022
Everyone is talking about inflation reaching heights not seen in decades, and the effects have trickled down into the United States Postal Service’s prices. On April 6, 2022, the USPS filed notice with the Postal Regulatory Commission to increase their prices, effective on July 10th, 2022.
The USPS mailing services prices are generally based on the consumer price index. This helps the postal service ensure they offer market rate pricing. While inflation readings came in at 7.9% in February, according to the Bureau of Labor Statistics, the USPS is only proposing increasing prices by approximately 6.5%. These price increases will also help offset huge investments the USPS is making in their core infrastructure over the next 10 years.
Businesses need to understand these price increases and make sure they are prepared. The proposed price increases are not yet final, as they still need to be approved by the Postal Regulatory Commission before they go into effect; however, the increases will likely be approved. Prices were last increased in August of 2021, but are increasing again due to inflation.
Importantly, First-Class mail prices for stamps, metered mail rates, postcards, and international letters are all scheduled to increase by a minimum of 2 cents. The proposed mailing service charges include:
|Product||Current Price||Planned Price|
|Letters (1oz)||58 cents||60 cents|
|Letters (metered 1 oz.)||53 cents||57 cents|
|Letters additional ounce(s)||20 cents||24 cents|
|Domestic Postcards||40 cents||44 cents|
|International Letter (1 oz.)||$1.30||$1.40|
But don’t worry, at Switch we have you covered. Our software automatically updates with USPS price increases to make sure there’s no interruption in your mail delivery needs. If you’re not a current user, try Switch today!