USPS Looking to Raise Price of 1st Class Stamps to 73 Cents, Which Would Be the 4th Increase in a Year

"I’m a senior on a fixed income. I cannot really afford stamps that much," one person said of the proposed price

The United States Postal Service could soon see a hike in postage prices.

The proposed plan could take effect as soon as this summer, USPS announced on Tuesday, April 9. “The new rates include a 5-cent increase in the price of a First-Class Mail Forever stamp from 68 cents to 73 cents,” the agency said.

A price increase this past January was the third within 12 months.

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According to the update, a notice has been filed with the Postal Regulatory Commission (PRC) of Mailing Services with a target date of July 14, 2024, if approved.

Under the proposal, all mailing service product prices would rise by approximately 7.8%.

"I've got to deal with it. What else can you do? You've got to go with the flow, man. Times change," New York resident Albert Quiles told ABC News on April 10.

"There's nothing you can do," he continued. "The government says this is what you've got to do. It's not like it's just me — it's everybody. I don't feel bad about that."

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However, not everyone agreed.

"It's ridiculous, absolutely ridiculous," Jacqueline Pollen told the outlet while leaving a post office on the upper West Side of Manhattan.

"I’m a senior on a fixed income," she continued. "I cannot really afford stamps that much. I do have a lot of Forever stamps that I bought years ago and I’m using them up, but I don’t know how I’m going to afford 73 cents for one stamp."

According to USPS, “First-Class Mail Forever stamps cost $0.68 (the current 1 oz price) and will never expire, even if the First-Class postage rate goes up.”

Pollen shared that she tries to be as resourceful as possible when it comes to staying within her budget.

"I use E-cards and email. That's what I use now to save money,” she said.

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The Postal Service is also seeking price adjustments for special services products, including certified mail and money order fees, the agency added.

Despite the proposed hikes, USPS maintains that their prices are among the most affordable in the world, and says the adjustments are needed “to achieve the financial stability” that the organization’s Delivering for America 10-year plan requires.

Additionally, the cost of Post Office Box rental fees will not increase and a 10% price reduction will be applied when postal insurance is purchased for mailing an item.

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