(NEXSTAR) – The price of postage is going up — again. The United States Postal Service officially announced the price of Forever stamps and other postage will go up on Jan. 22, 2023.
The move has been anticipated for months after Postmaster General Louis DeJoy said in August that increases would be necessary to keep up with costs. Inflation was expected to add $1 billion to the Postal Service’s operating budget, the Associated Press reported.
The USPS plans to increase prices of affected postage by 4.2%, which amounts to a few cents per stamp. The cost of a Forever stamp would go up 3 cents, from 60 cents to 63 cents. The price of Forever stamps just went up in July from 58 cents to 60 cents. A year ago, the stamps cost 55 cents.
Forever stamps, regardless of when they are purchased, will be accepted in perpetuity – hence the name. That means if you have some already, those will still be accepted to mail letters next year. It also means you can buy stamps in bulk now to avoid paying more come January. See more details on the 2023 price changes below:
|Product||Current Price||Planned 2023 Price|
|Letters (1 oz.)||60 cents||63 cents|
|Letters (metered 1 oz.)||57 cents||60 cents|
|Domestic Postcards||44 cents||48 cents|
|International Letter (1 oz.)||$1.40||$1.45|
“The Postal Service is also seeking price adjustments for Special Services products including Certified Mail, Post Office Box rental fees, money order fees and the cost to purchase insurance when mailing an item,” said the USPS, which didn’t, however, specify how much more expensive those things might get.
The Governors of the U.S. Postal Service have approved the plan to raise postage prices, and now it’s up to the Postal Regulatory Commission to review the proposal. USPS has also implemented peak-season pricing to offset the costs of operating during the holiday season.
The change in price depends on the weight of the parcel and the distance it’s being shipped. Some changes are minor — as low as 25 cents — while others are substantial. The biggest price jump is $6.50 for shipping heavier, commercial Priority Mail and Priority Mail Express packages over long distances. (See a product-by-product breakdown from USPS.) The peak-season holiday shipping pricing lasts through Jan. 22, 2023 – the same date the 2023 postage hike is set to take effect.