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United States Postal Service price increases take effect July 10; stamps to increase to 60 cents 

The Postal Regulatory Commission (PRC) recently approved fee increases for the USPS (United States Postal Service) which will take effect July 10. The new prices include a two-cent increase in the price of a First-Class Mail “Forever” stamp, from 58 cents to 60 cents.

The USPS expects to lose approximately $110 billion over the next decade and has endured 14 consecutive years of net losses. The USPS had a net loss of $639 million in its 2022 second quarter-end, compared to an $82 million net loss for the same period last year. The agency is experiencing a slowdown and stiff competition from shipping companies like FedEx, Purolator, and UPS.

The new postal service prices, which were approved by the Governors of the U.S. Postal Service, will raise First-Class Mail prices by approximately 6.5 percent, according to USPS director of mailing and services pricing Samie Rehman. The increases are deemed necessary to recover costs incurred amid the slowdown caused by the COVID-19 pandemic.  

Other postal services price increases include the price of post office boxes (7%), money orders (14.4%), sending a certified letter (6.7%), sending a registered letter (6.2%), and return receipts (7.1%).

As inflation and increased operating expenses continue, these price adjustments are intended to help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next ten years. With the new prices, the Postal Service will continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping.

The Postal Service generally receives no tax dollars for operating expenses and relies on the sale of postage, products, and services to fund its operations.

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