USPS: Price Hikes Will Raise Cost of Stamps to 66 Cents

TeeRoy's 2 Cents:

• Who still buys stamps?
• The truth is, fewer people are using the post office these days and the agency is desperately trying to stay alive.
• The USPS hopes to reach financial stability in 10 years.

The U.S. Postal Service is raising the price of stamps again as the money-bleeding agency continues to try and get back on a path to profitability. 

The price hike, which will go into effect on July 9th, will raise the price of a stamp to 66 cents, up from the current 63 cents. It's also the fifth increase since 2019 when a stamp cost 50 cents. Experts are criticizing the move saying the price increase is higher than inflation and Americans are being charged more but not getting better service. The Postal Service insists the hike is "fueled by inflation" as well as "the effects of a previously defective pricing model." 

Other fees will rise as well. The cost of mailing a postcard anywhere in the U.S. will jump from 48 cents to 51 cents, and international letters will increase five cents to $1.50. (The Washington Post)