USPS Postage Rates Will Increase for the Second Time This Year in July

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The USPS has announced its plans to increase postage rates for the second time in 2023. Learn more about the new rates that are set to begin on July 9. 

It will soon cost more to mail domestic and international letters and postcards. The United States Postal Service (USPS) recently announced its plan to increase rates in July. This is the second postage rate increase in 2023. If you frequently send mail, this is news worth knowing, as it could impact your checking account balance.

Except to pay more for postage in July

As part of its 10-year plan, the USPS is raising postage rates to increase its cash flow. The last time consumers saw a postage rate hike was on Jan. 22, 2023. Beginning on July 9, 2023, several mail services are set to increase in price again. Price hikes range from $0.03 to $0.05, depending on the product.

Here’s a breakdown of the price changes you can expect later this summer:

The USPS announced these proposed changes on April 10, 2023. Now it’s up to the Postal Regulatory Commission (PRC) to determine if the proposed rates are approved. If the agency approves the rate hikes, the new, higher prices will go into effect on July 9, 2023.

How to lock in the current postage stamp rate

Here’s some good news: Consumers can lock in the current rate for 1 oz. letters by purchasing Forever Stamps before July 9. Once you buy these stamps, you can use them forever without having to worry when rate increases happen. Stocking up on Forever Stamps is an excellent way to lock in lower postage rates before a rate hike occurs.

How much do these stamps cost? Forever Stamps are sold at the same price as regular First-Class Mail stamps, so if you buy them in the coming weeks, you’ll only pay $0.63 per stamp instead of $0.66 per stamp. For those who mail letters often, the savings can add up.

Here’s another way to get a deal on postage stamps

There’s yet another way to get a discount on stamps before July. Warehouse club members can take advantage of discounts on Forever Stamps by purchasing stamps at their local club. Keep in mind the discounts are minimal — for every 100 stamps purchased at Costco or Sam’s Club, you’ll get a $0.25 discount.

That may not sound like a lot of money, but the savings could add up if you plan to buy a large quantity of stamps. If you’re going to pick up essentials soon, you may want to plan to buy some stamps, too, before the rate increases take effect.

Earn rewards on your spending

In today’s expensive world, everything costs more — groceries, gasoline, clothes, utilities, and even postage stamps. One thing you can do to combat higher prices is to use cash back credit cards to earn rewards when you shop.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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