Postage rates increase July 14

For the fifth time in two years, the cost of a postage stamp will increase. The latest rate hike goes into effect July 14.

The price of a first-class Forever stamp will increase from 68 cents to 73 cents, a 7.8% increase.

Other increases approved by the Postal Regulatory Committee include a five-cent hike to 69 cents for a metered one-ounce letter; domestic postcard rates will bump up three pennies, from 53 to 56 cents; an additional ounce for single-piece letters will increase to 28 cents.

International postcards and international one-ounce letters will increase by a dime, from $1.55 to $1.65.

The price hikes are part of the postal service's 10-year "Delivering for America" plan, which is intended to steady the service's financial woes.

This is the second increase in 2024.

According to USPS, the organization lost $6.5 billion in 2023, citing reduced mail volume and inflation for the price hike.

The rate hike will have an impact on newspapers and magazines using periodical mail, which has increased 47% since 2021.