Do you have some graduation thank-you notes to send out? You better get on it now as the price of stamps is going up!
On April 6, 2022, the United States Postal Service filed a notice with the Postal Regulatory Commission (PRC) of price changes to take effect on July 10, 2022. On June 9, 2022, the PRC announced the approval of changes, which include a two-cent increase in the price of a First-Class Mail Forever stamp from 58 cents to 60 cents.
The proposed prices, approved by the Governors of the U.S. Postal Service, would raise First-Class Mail prices by approximately 6.5 percent, which is lower than the Bureau Labor Statistics’ annual inflation rate of 7.9 percent as of the end of February.
The new First-Class Mail prices can be summarized as follows:
|July 2022 First-Class Mail Prices|
|First-Class Mail||Current Price||Proposed Price|
|One-ounce letter, domestic||$0.58||$0.60|
|Single-piece letter, additional ounce||$0.20||$0.24|
|Metered mail 1-ounce||$0.53||$0.57|
|One-ounce letter, international||$1.30||$1.40|
The Postal Service is also seeking price increases for Special Services products including Certified Mail, Post Office Box rental fees, Money Order fees, and the cost to purchase insurance when mailing an item.
The PRC has reviewed and approved the prices. The complete Postal Service price filing with prices for all products can be found on the PRC site under the Daily Listings section at https://www.prc.gov/dockets/daily.