Beginning on Sunday, July 9, 2023, there will be a price increase for Forever Stamps, with the rate per stamp rising from 63¢ to 66¢. Consequently, the cost of a book of 20 stamps will increase to $13.20, up from the previous price of $12.60.
USPS periodically changes its postage rates. It analyzes its postage rates every year to decide possible rate changes for the following year. In 2023, the USPS made some changes to their postage rates, where there is an increase in postage rates compared to January 2023 price increase.
Their new postage rate will be implemented from Sunday July 9, 2023.
This article will discuss how much and where the USPS postage cost has increased in 2023, so you can stay updated with USPS postage rates.
Key Changes in July 2023 USPS Postage Rate
- The pricing difference between Stamps and Meter will stay at 3 cents.
- The non-Machinable surcharge for Non-Machinable mail will go from 39 cents to 40 cents.
- The extra ounce charge will continue to be 24 cents.
- The cost of 5-Digit Automated Letters will rise by 3.5%.
- There is an overall increase of 6.2% in flats.
|Price in July 2023
|Price in January 2023
|1 oz. First Class Letter
|First Class Letters Additional Ounce Stamp charge
Standard Marketing Mail:
- 3.2% is the overall Letter growth.
- 6.2% is the overall Flat growth.
- Five additional discounts for Flats on SCF pallets have been created.
- Retail EDDM increased by 1%.
- 6.2% total rise in CRRT
Now, look at the July 2023 USPS Stamp price increase in detail. Our discussion will give you a complete overview of where and how much the fee increases have occurred in the updated USPS postage rates.
The cost of USPS postage to send a typical letter has risen from 63 to 66 cents. The cost of postage for each extra ounce remains constant at 24 cents, but the Non-Machinable surcharge for Non-Machinable items like square-shaped invitation cards, birthday cards, keys, and more has increased from 39 to 40 cents.
It now costs $1.06 to mail a standard wedding invitation card that is less than 1 ounce.
There is an increase in the postage cost of postcards in 2023, where the postcard rate has increased from 48 cents to 51 cents. This means that if you want to send a lovely message through a postcard to your dear one located far away, you will now have to pay $0.51 as postage.
Flats / Large Envelopes
A Flat/Large Envelope will now cost $1.32 in USPS postage as opposed to $1.20 previously. That is, the postage of a Flat or large Envelope of 6 cents is increased. However, an extra 24 cents for Flats weighing more than 1 oz will still apply as an extra oz.
For example, if you want to ship a Flat that weighs 1.01 ounces, you will now have to pay $1.56 for postage.
Why Has There Been a Big Increase in USPS Postage Rates?
The process for setting postal rates was changed by reform legislation in 2006, which required a review by the Postal Regulatory Commission in 2016 to ensure it was working as intended.
The PRC found that the USPS was financially in dire straits and had no choice but to conclude that the rate-setting process was bringing in too little money. In return, the PRC changed the rate-making process in November 2020 to grant the USPS additional rate authority, allow over-CPI rate increases for volume losses and assist with pre-funding payments.
As the Postmaster General works to recover $160 billion in losses over the coming ten years, the USPS is using all the rate power under its control. Postal Service’s governors endorsed the PMG and granted approval for the submission.
Also read: Does Walmart Sell Stamps in Stores?
How are the Size and Timing of Postage Rate Increases Determined?
The Postal Reform Act of 2006 established that the extent of price increases for USPS market-leading products is capped to an amount tied to changes in the Consumer Price Index.
Several formulas for annual rate increases and increases over shorter or longer periods are used to determine the cap. Although the USPS can decide when to raise prices, the law stipulates that increases must be regular and foreseeable.
How is the Amount of Needed Revenue Determined?
The price of the postal service raises the required quantity of revenue. Certain costs are entirely under its control, such as those related to salaries and benefits, which are determined by contracts; fuel costs and transportation set by the market; and retail and distribution costs covered by its universal service obligation.
Rates are required by law to include a share of the product’s chargeable expenses as well as institutional costs incurred by the USPS.
FAQs on USPS Postage Rate Increase
How much does it cost to send a standard letter now in 2023?
If your letter is a standard-size letter that weighs 1 ounce, you will pay 66 cents as postage to send it.
Does it cost more to send a letter internationally?
Yes, international postage is higher than domestic postage. If you want to send a letter from your country USA to any other country, you have to pay a higher postage fee.
Under 2023 USPS postage rates, postage for a standard-size international letter weighing 1 ounce will cost $1.50. And if the letter weighs more than 1 ounce and doesn’t meet the standard size requirement in dimensions, in that case, your postage charges will go up.
Should we expect to see more rate increases in 2023?
Yes, the USPS will likely increase its postage stamp price in January 2024 as well. This happened in the past as well.
When does a letter usually require additional postage?
Postage charges vary based on your letter’s weight, size, and physical features. A standard-size domestic letter weighing 1 ounce requires one Forever stamp. But, if your letter weighs more than 1 ounce, like 2 ounces, you’ll need to pay additional postage for the extra weight of your mail.
If I have old Forever stamps, can I use them?
You can use your old Forever stamps for your 1-ounce domestic mail. Even though the price of Forever stamps has changed, the USPS will accept your previously purchased Ones for 1 oz mail.
So you’ve seen where and by how much the July 2023 USPS postage price increased. There has been an increase in Forever stamps, Global Forever stamps, and Non-Machinable stamps,
Hence, whenever you want to send domestic or international mail, inquire about the USPS postage costs and send your mail with the appropriate postage.
Hello, I’m Kevin, a passionate philatelist from Brooklyn, NY, with years of experience in collecting and studying stamps. Through my blog, I aim to share my knowledge and insights on all things related to stamps, including where to buy them and their current market value. As a trained researcher, I pride myself on providing accurate and trustworthy information to my readers. Feel free to reach out to me through the contact form with any questions or suggestions. Happy stamping!