The United States Postal Service (USPS®) is planning to increase postage rates, scheduled to take effect on July 14, 2024. The proposed changes, approved by the Postal Service’s governors, would see an increase of 5 cents in the price of a First-Class Mail Forever stamp, rising from 68 cents to 73 cents. These adjustments are a part of the organization’s efforts to achieve financial stability under its Delivering for America 10-year plan, amidst ongoing changes in the mailing and shipping marketplace.
The proposed adjustments extend beyond stamp prices. The additional-ounce price for single-piece letters is set to rise from 24 cents to 28 cents. Furthermore, price adjustments are sought for Special Services products, including Certified Mail and money order fees.
Please note there will be no increase in Post Office Box rental fees, and a 10 percent price reduction is proposed for postal insurance when mailing an item.
USPS® Postage Rates & Sizes w.e.f. July 14, 2024
Mailing Rate Increases by Mail Classes
Class | Percent Change |
First-Class Mail | 7.755 |
USPS® Marketing Mail | 7.755 |
Periodicals | 9.754 |
Package Services | 7.755 |
| Special Services | 7.755 |
First-Class Mail Price Changes
Product | Percent Change |
Single-Piece Letters/Postcards | 7.674 |
Presort Letters/Postcards | 7.629 |
Flats | 9.684 |
Outbound Single-Piece First-Class Mail International | 6.334 |
Inbound Letter Post | 0.567 |
Total First-Class Mail | 7.755 |
First-Class Mail First-Ounce Rates – Letters
USPS® Marketing Mail Product Price Changes
Periodicals Price Changes
Product | Percent Change |
Outside County | 9.758 |
Within County | 9.701 |
Overall | 9.754 |
Package Services Price Changes
Product | Percent Change |
Bound Printed Matter Flats | 4.771 |
Bound Printed Matter Parcels | 5.696 |
Media Mail and Library Mail | 9.867 |
Overall | 7.755 |
Click here to view the detailed price list.
Understanding the Implications of USPS® Postage Rates July 2024
This price change would mark the 19th stamp rate change since 2000 and would match the record for the highest stamp hike if approved. Over the years, stamp rate changes have been a response to various factors, including shifts in consumer behavior towards electronic communication and ongoing financial challenges faced by the USPS®. The proposal also reflects the 5th rate hike in two years, indicating a trend of frequent adjustments to adapt to evolving market conditions.
The USPS® filing with the Postal Regulatory Commission outlines a price increase of approximately 7.8%. This increase aims to address the USPS® financial concerns and align with its long-term strategic plan. However, such frequent hikes have drawn criticism too. Critics argue that while the USPS® often cites inflation as a reason for price adjustments, the increases far exceed the Consumer Price Index, leading to declines in mail volume and potential financial outcomes.
Impact of Digital Communication on USPS® Mail Volume
The decline in mail volume is evident in recent years, with more individuals opting for online bill payments and digital communication methods over traditional mail. In 2023, USPS® handled significantly fewer pieces of mail compared to its peak volume in 2006, indicating a substantial shift in consumer preferences. This decline in mail volume, coupled with the financial challenges faced by the USPS®, underscores the need for strategic adjustments to maintain the service’s continuity.
Other USPS® Proposals
In preparation for July 2024, the United States Postal Service (USPS®) is gearing up for significant operational adjustments aimed at improving efficiency and service quality, though these changes remain subject to approval and possible modifications by the Postal Regulatory Commission (PRC). Here is an overview of the proposed changes:
- Delivery Network Redesign: The USPS® plans to revamp its delivery network, potentially renaming facilities and assigning them new roles to optimize performance.
- Mailing Promotions and Incentives: The introduction of five mailing promotions and two “add-on/upgrade” promotions is on the agenda. These include promotions like Tactile, Sensory, and Interactive Promotions, aimed at enhancing engagement, and incentives related to Informed Delivery and Sustainability to encourage environmentally friendly practices. Additionally, growth incentives are proposed for both First-Class Mail and USPS® Marketing Mail.
- Identification of Official Election Mail/Ballots: To ensure the secure and timely delivery of election-related materials, new requirements will be implemented to distinguish Official Election Mail/Ballots from Political Campaign Mail.
- Re-evaluation of First-Class Mail Flat Pricing: The pricing structure for First-Class Mail Flats will undergo re-evaluation, potentially affecting the costs associated with mailing larger, flat items.
- Proposed Pricing Changes: The USPS® has proposed rate increases across various services and changes in how pricing is calculated for certain mailings.
- Marketing Mail Flat Rates Restructuring: Significant restructuring is expected for Marketing Mail Flat Rates, including changes to how rates are calculated based on weight and the reintroduction of work share discounts for certain mailings.
- Catalog Incentive: Mailers using Marketing Mail or Package Services Bound Printed Matter Flats and Parcels will be eligible for a per-piece incentive if they announce their mail pieces as catalogs during presentation to the USPS®. However, Marketing Mail Simple Samples will be discontinued under this plan.
These proposed changes aim to modernize USPS® operations, incentivize mailers to utilize postal services more efficiently, and ensure the continued provision of reliable mail delivery services across the country. While subject to regulatory review, these adjustments signal USPS® commitment to adapting to the evolving market demands and enhancing customer experiences.
Compu-Mail’s Strategic Guidance for USPS® Proposed Rates
Looking ahead, the USPS® proposal will undergo review by the Postal Regulatory Commission before implementation. The outcome of this review will determine the final pricing structure for mailing services from July 2024 onwards. As the USPS® continues to navigate challenges and seek financial stability, the proposed price adjustments represent a proactive step towards sustaining its operations and meeting the evolving needs of customers in an increasingly digital world.
Utilizing its services, Compu-Mail plays a vital role in assisting businesses in navigating the implications of the proposed USPS® postage rates for July 2024. By leveraging our expertise, we help businesses adapt to potential changes in postal pricing structures. Moreover, we at Compu-Mail, provide comprehensive mailing solutions, enabling clients to strategize and optimize their campaigns to minimize the impact of postage rate adjustments on their operations and budgets. Through innovative solutions and strategic planning, Compu-Mail serves as a trusted partner, assisting businesses in maintaining operations and meeting the evolving needs of customers.
