What You Wish to Know About USPS’ July 9, 2023 Value Building up

The United States Postal Service (USPS) recently raised its prices again on July 9, 2023. The new price announcement from USPS comes on the heels of the organization’s overarching 10-year plan to put the agency on the path to profitability. But how does this affect consumers?

USPS’ 2023 Price Hike and You

content On July 9, 2023, USPS raised the price of the first-class ‘forever’ stamp by 0.03 cents. This represents a significant increase given that the last USPS rate hike was in January 22, 2023, less than six months ago. The rationale given was that the USPS shipping rates’ 5.4% increase is necessary to offset the rise in inflation.

Here are the first class postage rate 2023 price changes for quick reference:

table.GeneratedTable {
width: 100%;
background-color: #ffffff;
border-collapse: collapse;
border-width: 2px;
border-color: #008000;
border-style: solid;
color: #000000;
}

table.GeneratedTable td, table.GeneratedTable th {
border-width: 2px;
border-color: #008000;
border-style: solid;
padding: 3px;
}

table.GeneratedTable thead {
background-color: #008000;
}

By now, you can expect that the USPS will have biannual price hikes. This is all part of their 10-year plan which we discuss below. This three-cent increase might seem small for some, but it’s still a significant change that has greatly affect businesses, organizations, and consumers, especially those who use direct mail marketing and EDDM.

In light of this, we recommend stocking up on stamps. The good thing about forever stamps is that they last… forever. As the name suggests, Forever Stamps can be used to mail a one-ounce letter. It doesn’t matter when the stamps were purchased or if prices have gone up. If you’re always sending small mailers and your cash flow can afford it, stocking up on forever stamps would be a good idea. This lets you lock in 2023 postal rates for months or years to come.

USPS’ 10 Year Plan

USPS’ master plan, dubbed as Delivering for America, is the agency’s comprehensive 10-year blueprint to achieve financial sustainability and service excellence. Over the next few years, USPS plans to develop facilities that beef up their processing, transportation, and delivery networks.

The biggest goal for the USPS is network modernization. $7.6 billion of the plan’s $40 billion self-funded investment budget is committed to creating a modernized postal network. This involves building new centrally located sorting and delivery centers for a more efficient and effective mail flow across the nation.

While not perfect, the USPS postage rates 2023 price increase makes sense since the organization has been unprofitable and bleeding funds for years. The hike, together with the 10-year plan, aims to right the ship in the direction of sustainability. Meanwhile, consumers who are taking the brunt of the cost need to be savvy and maximize opportunities to save.