October 22, 2020

Don’t get licked with a 10-percent increase, buy stamps ahead of rate hike

Consumers only have a few more days left to buy first-class, forever stamps at current prices before they cost 10-percent more.

Beginning January 27, the price of a first-class stamp will rise from $0.50 to $0.55. The cost increase is the largest increase in USPS history, but you can buy as many forever stamps at current prices as your wallet will allow now, at the current price of $0.50 each.

The increase in stamp prices, along with increases in other USPS shipping pricing, comes after the agency announced losses of $3.9 billion during fiscal year 2018.

The postal service has seen increases in package delivery revenue, but still has experienced significant declines in domestic letter and direct-mail advertising volumes. The losses have caused President Trump’s administration to suggest the agency should be privatized. The White House later backed off that stance

When the rate increases go into effect, domestic, first class postage will change as follows:

Product

Old Rate

New Rate

Forever Stamp

50 cents

55 cents

Metered Letter

47 cents

50 cents

Additional Ounce

21 cents

15 cents

 

Other, new postal rates will also be put into effect on January 27 as well including:

Product: Priority Mail

Old Rate

New Rate

Retail Small Flat Rate Box

$7.20

$7.90

Retail Medium Retail Flat Rate Box

$13.65

$14.35

Retail Large Flat Rate Box

$18.90

$19.95

Retail Large Flat Rate Box APO/FPO/DPO

$17.40

$18.45

Retail Regular Flat Rate Envelope

$6.70

$7.35

Retail Legal Size Flat Rate Envelopes

$7.00

$7.65

Retail Padded Flat Rate Envelopes

$7.25

$8.00