Changes for USPS
Last updated 2/15/2024 at 10:41am
The U.S. Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes for Shipping Services to take effect Jan. 21, 2024. These proposed prices were approved by the Postal Service governors.
USPS Ground Advantage prices would increase by 5.4 percent, Priority Mail service prices would increase by 5.7 percent, and Priority Mail Express service prices would increase by 5.9 percent. The Postal Service is also seeking price adjustments for Special Services products including Post Office Box rental fees and some international mail services that includes Registered Mail and International Mail insurance. The PRC will review the prices before they are scheduled to take effect.
The Postal Service continues to offer a great value in shipping. Unlike some other shippers, the Postal Service has upfront pricing and does not add surcharges for residential and regular Saturday delivery, nor fuel. Also, the Postal Service offers convenient flat rate and cubic pricing options.
The Postal Service continues to offer USPS Ground Advantage – a new ground shipping solution that provides a simple, reliable, and affordable way to ship packages across the continental U.S. with 2 – 5 day certain delivery based on distance. USPS Ground Advantage offers $100 insurance included in the price, as well as free pickup on the carrier’s route.
The pricing for USPS Connect Local will remain unchanged. This service provides businesses with an affordable same-day and next-day delivery for their local customers.
Driven by the ongoing implementation of the Delivering for America plan, 98 percent of the nation’s population currently receives their mail and packages in less than three days.
As operating expenses fueled by inflation, including the cost of fuel, labor, and materials, continue to rise and the effects of a previously defective pricing model are still being felt, these price adjustments are needed to provide the Postal Service with much needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan. The prices of the U.S. Postal Service remain among the most affordable in the world.
The USPS has been losing money for years, and the rate increase is seen as a way to help the agency become more financially sustainable.
The USPS filed a notice with PRC of mailing services price changes back in May 2023, that took effect on July 9.
This proposed rate increased included a price increase in periodical mail and a three-cent increase in the price of a First-Class Mail Forever stamp from 63 cents to 66 cents. It also increased 8.1%, affecting all classes of periodical mail, including newspapers, magazines, and other publications.
