CNNĪlso on April 6, President Joe Biden signed the Postal Service Reform Act into law. This coincides with President Joe Biden's signing of the Postal Service Reform Act. Price adjustments are tied to inflation and "increased operating expenses," the USPS said, adding that price changes allow the service to "continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping." The press release from the USPS stated it will also seek price adjustments for Special Service products, including Certified Mail, Post Office Box rental fees, Money Order fees, and cost of insurance when mailing items. Now it's really about improving our service, reducing our cost from waste, investing in our facilities and employees and growing our business," Dejoy said. "I've still got $80, $90 billion to do and we have a lot of plans to keep that moving that forward. Even with pricing changes that were approved in 2021 and additional legislative changes, Dejoy said there is still a need to make cuts. Postmaster General Louis Dejoy was asked about the reasons for the price increase during an interview, to which he said, "Because we need money," Reuters reported. Earlier this month, the agency also introduced two new shipping fees, Nonstandard Fees and the Dimension Noncompliance Fee, which could incur surcharges ranging between $1.50 and $15.
The single-piece letter additional ounce price will also have a price increase from 20 cents to 24 cents. In addition to standard letters, prices will also increase for metered one-ounce letters from 53 cents to 57 cents, for domestic postcards from 40 cents to 44 cents, and for international one-ounce letters from $1.30 to $1.40. On a positive note, if you've already purchased First-Class Mail Forever stamps at the 58-cent price, they do not expire, even when prices are raised, the USPS said. Price changes are to take effect J"if favorably reviewed by the PRC," a press release from the USPS states. This includes the First-Class Mail Forever stamp, used for one-ounce letters, which will go up from 58 cents to 60 cents. The USPS filed notice with the Postal Regulatory Commission (PRC) on April 6 that it would be raising First-Class Mail prices by 6.5 percent. The USPS will increase the prices of First-Class Mail by 6.5 percent.
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