(NEXSTAR) – The cost of postage is rising again.
The United States Postal Service officially announced that the price of Forever stamps and other postage will increase on January 22, 2023. The move has been expected for months after Postmaster General Louis DeJoy said in August that the increases would be necessary to maintain costs. Inflation is expected to add $1 billion to the Postal Service’s operating budget, Associated Press registered.
The USPS plans to increase the prices of the affected postage by 4.2%, which amounts to a few cents per stamp. The price of the Forever brand would increase by 3 cents, from 60 cents to 63 cents. The price of Forever stamps just went up in July from 58 cents to 60 cents. A year ago, stamps cost 55 cents.
Forever stamps, regardless of when they were purchased, will be accepted forever – hence the name. This means that if you already have them, they will still be accepted for sending letters next year. It also means you can buy stamps in bulk now to avoid paying more in January.
See below for more details on price changes in 2023:
|Product||Current price||Planned price in 2023|
|Letters (1 oz.)||60 cents||63 cents|
|Letters (measured 1 oz.)||57 cents||60 cents|
|Domestic Postcards||44 cents||48 cents|
|International Letter (1 oz.)||$1.40||$1.45|
“The Postal Service is also seeking price adjustments for special service products, including certified mail, mailbox rental fees, money order fees and the cost of purchasing insurance when mailing,” USPS said, who, however, did not specify how much more expensive those things could be.
US Postal Service governors have approved a plan to raise postage rates, and now it’s up to the Postal Regulatory Commission to consider the proposal.
USPS has also implemented peak season pricing to offset the cost of doing business during the holiday season.
The price change depends on the weight of the package and the distance it is sent. Some changes are small — as little as 25 cents — while others are significant. The largest price jump is $6.50 for long-distance delivery of heavier, commercial Priority Mail and Priority Mail Express packages. (See product-by-product breakdown from USPS.)
The peak season holiday shipping rates last until January 22, 2023 – the same date the 2023 postage increase is scheduled to go into effect.