USPS Set to Increase Stamp Prices Once Again

 WASHINGTON, D.C. – Keep US Posted, a nonprofit advocacy group representing consumers, nonprofits, newspapers, greeting card publishers, magazines, catalogs, and small businesses, wants to remind consumers about the upcoming postage rate increase by the U.S. Postal Service (USPS). Effective Sunday, January 21, this marks the fifth increase in just two years, setting a record for the most frequent rate hikes in USPS's 248-year history.

All First-Class mail products will see a 2 percent price hike starting Sunday. The cost of a First-Class Mail Forever stamp will go up from 66 cents to 68 cents. This comes after a recent increase in July, from 63 cents to 66 cents, following a bump from 60 cents to 63 cents in January 2023. Catalogs and newspapers will experience increases above the average, affecting both consumers and businesses.

Keep US Posted Executive Director Kevin Yoder expressed concern, stating, “These unprecedented postage increases are just driving down mail volume and fueling more fiscal instability for USPS.” Despite receiving a $120 billion windfall from Congress in 2022, USPS reported an operating loss of $6.5 billion in 2023, projecting a $6.3 billion loss in 2024.

Yoder urged Postmaster General Louis DeJoy to reconsider the Delivering for America plan's semi-annual stamp increases, emphasizing that traditional mail remains USPS's primary revenue source, and each rate hike contributes to further mail decline.

In November, USPS disclosed a $6.5 billion loss for fiscal year 2023, citing a nearly 9 percent decrease in mail volume and over 2 percent decline in package volume. The Delivering for America plan, initiated by Postmaster General DeJoy, aimed to achieve financial stability by breaking even in 2023, a goal that fell short, prompting disappointment.

Representatives Emanuel Cleaver (D-MO) and Sam Graves (R-MO) joined other members of Congress in sending a letter to the USPS Board of Governors on Monday. The letter urged a delay in further stamp increases until the impact of biannual hikes on mail volume and revenue is better understood.

Yoder emphasized the need for Congressional action to prevent a potential USPS bailout, commending Congressmen Cleaver and Graves for addressing the issue promptly.

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