The United States Postal Service (USPS) is hiking the price of first-class mail stamps to 66 cents from 63 cents effective July 9, 2023.
This is the latest in a series of price increases to help offset inflationary pressures and declining first-class mail volumes. In January, USPS last boosted stamp prices to 63 cents from 60 cents. The Postal Service on Sunday is raising overall first-class mail prices by 5.4 percent after the Postal Regulatory Commission gave approval.
Stamp prices are up 32 percent since early 2019 when they rose from 50 cents to 55 cents. USPS said Friday "these price adjustments are needed to provide the Postal Service with much needed revenue." First-class mail volume fell 3 percent last year to the lowest number in 50 years and is down 51 percent since 2006.
Please select this link to read the complete article from Reuters.