The United States Postal Service has raised prices four times in the last two years.
David Matthews | New York Daily NewsThe increase from 63 cents will take effect July 9, 2023 unless a postal regulator overrules the hike. The agency’s price increase from 60 cents was approved in January.
The USPS has raised prices four times in the last two years and by 32% since 2019, when stamps went from 50 cents to 55 cents.First-class mail accounted for about 31% total USPS revenue of $78.8 billion in 2022. However, the agency has seen a decline in mail and package volume so far in 2023.to make up a projected $160 billion budget shortfall.
“As operating expenses fueled by inflation continue to rise and the effects of a previously defective pricing model are still being felt, these price adjustments are needed to provide the Postal Service with much needed revenue to achieve financial stability,”
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