The United States Postal Service (USPS) has filed notice with the Postal Regulatory Commission (PRC) of mailing services price changes that will take effect July 9, 2023. The USPS announced their plan last year to begin initiating postage rate increases twice a year in both January and July moving forward.
If the proposed rates are reviewed favorably and approved, they will include a three-cent increase in the price of a First-Class Mail Forever stamp from 63 cents to 66 cents. First-Class Mail prices will rise by approximately 5.4%, although there will be no change to single-piece letter or flat additional-ounce prices, which will remain at 24 cents. The Postal Service is also seeking approval for price adjustments to some Special Services such as Certified Mail, Post Office Box rental fees, money order fees, and the cost to purchase insurance when mailing an item.
We will monitor the status of the PRC’s review of the proposal and keep clients up to date once they have approved finalized rates. If you are concerned about these increases affecting your postage costs, please reach out to your account management team to see how Venture Solutions’ mailing experts can help you take advantage of any available savings opportunities.
There are several USPS promotions running throughout the rest of the year that offer great potential to reduce postage costs as well as advanced address hygiene processing we can perform on your input data to reduce return mail volumes. We also offer a full suite of digital solutions that can support your e-adoption efforts to encourage more customers to receive their communications by email, SMS, or other web-based channels with traditional mail delivery serving as a backup to digital delivery.
Feel free to let us know if you have any questions about the USPS’ proposed rate increases.