Stamp prices could rise by nearly 8% this summer

The United States Postal Service on Tuesday proposed another stamp price increase that could take effect as soon as this summer.

Under the proposal, USPS would raise the price of stamps by 7.8% — meaning stamps for first-class mail would increase 5 cents from 68 cents to a new price of 73 cents. In addition, USPS proposed increasing the prices of stamps for metered letters from 64 cents to 69 cents; international letters and international postcards from $1.55 to $1.65; and domestic postcards from 53 cents to 56 cents.

USPS noted there would be no price increase for post office box rental fees and postal insurance for mailing an item will have a 10% price reduction applied.

The proposal will be reviewed by the Postal Regulatory Commission and, if approved, would become effective July 14.

“As changes in the mailing and shipping marketplace continues, these price adjustments are needed to achieve the financial stability sought by the organization’s Delivering for America 10-year plan,” USPS said in a news release. “USPS prices remain among the most affordable in the world.”

At the current price of 68 cents, stamp prices have increased 36% since early 2019 when stamps were 50 cents each. USPS’ proposal to raise stamp prices to 73 cents would mark a 46% price hike from early 2019.

USPS most recently raised the prices of stamps on Jan. 21, stemming from a November 2023 proposal, which saw first-class mail stamps increase from 66 cents to the current price of 68 cents. That price hike came just six months after USPS increased stamp prices in July 2023, from 63 cents to 66 cents for first-class mail.