The price of a stamp is increasing each year and will continue to do so. The United States Postal Service (USPS) intends to raise the price of stamps from 58 to 60 cents in 2022. Furthermore, the USPS wants to raise the cost of metering letters, postcards, as well as international mail. However, when will the United States Postal Service raise the price of its stamps in 2022?
When will the price of stamps go up in 2022?
The USPS has notified the Postal Regulatory Commission of their stamp price increases that will take full effect on July 10, 2022. If this new pricing is approved, a two-cent rise in the price of any First-Class Mail Forever stamp from 58 to 60 cents would be implemented.
The proposed increases, which were authorized by the USPS Governors, would increase First-Class Mail costs by around 6.5 percent, which is less than the yearly inflation rate of approximately 8% reported by the Bureau of Labor Statistics as of the end of February. The price changes are the result of the Postal Regulatory Commission's pricing authority being used effectively by the Postal Service.
Why is the price of stamps increasing now?
In the past, inflation controls restricted the USPS to raise stamp prices by limiting postage rises to inflation rates. However, the Postal Regulatory Commission (PRC) has granted the agency new rate-setting authority. This implies that, while the Postal Service strives to save itself from any financial collapse, people may witness historically high price increases, so prepare yourself for a significant increase in postage this 2022.
Which types of mail will face the highest price hike?
First-class mail, advertising or marketing mail, periodicals, and special services, as well as package services, are among the services which will be affected by the twice-yearly price rises. It also points out that the USPS has a monopoly on several of these services.
Conclusion
As stated by the United States Postal Service (USPS), the price of stamps will be raised from 58 to 60 cents on July 10, 2022. You can choose to purchase stamps from the USPS right now to avoid being affected by price increases this July.
