US Postal Service rates increased

USPS recently hiked the price of a stamp to sixty-six cents, a 32 percent increase since 2019.

The change took effect July 9th, and was an increase of 4.8 percent from the previous cost of 63 cents. The move is the latest in a flurry of rate boosts that will result in the cost of a first-class stamp rising nearly one-third since 2019.

Under Postmaster General Louis DeJoy, the USPS has embarked on a 10-year plan to get on a path to profitability - with higher postage rates as part of the plan.

The recent price increase is the fifth since early 2019, when a Forever stamp cost 50 cents.

The USPS said the latest price hike is needed to offset higher operating expenses "fueled by inflation" as well as "the effects of a previously defective pricing model."

The higher cost for stamps will "provide the Postal Service with much needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan," it said in an April statement.

Other postage fees also increased. Postcards sent within the U.S. now cost 51 cents, from 48 cents, while international letters rose by 5 cents to $1.50. Other prices for USPS special services - including certified mail, post office box rental fees, money order fees and the cost to purchase insurance when mailing an item - were adjusted. Together, the various price hikes represent a boost of 5.4 percent, according to the USPS.