See the photo of the two postal trucks? The difference is the on on the right is the one we're paying for today, and the one on the left is the one we'll be paying for come July 1. Everything you order online, or ship online, will now cost more if it ships USPS, and in some cases, a lot more.
Our once-beloved postal service has become so good at losing money (having 11 straight years of losses), that they can even overcome their own rosy outlooks. The USPS predicted it would break even in 2023, but still managed to lose $6.5 billion (as in BILLION with a "B"), destroying their own crystal ball in the process.
So, they will now raise prices again on July 1, 2024, and then again on July 14, 2024.
Keep in mind it hasn't always been this way. The USPS operated from 1885 to 1917, 32 years, without a price increase. That first increase was a one-cent increase on first class mail. This was due to World War I, so when the war was over, that increase was dropped in 1919, taking the first class rate back down to the 1885 level.
First class finally went up a penny in 1932, and another penny in 1958. That's a total of a two-cent increase over 73 years.
Let's see how the post office is doing in recent times. In 2019, the first class rate was 55 cents, and today, after four increases, it's at 66 cents (raised in 2023).. That's a big shift, going from 2 cents over 73 years, to an 11 cent increase in four years.
The biggest increase in July will be in package service. Here is a list of the changes coming our way:
Here's what's changing on July 1st
Ground Advantage is increasing by up to $2.11:
Weight-Based Ground Advantage for shipments that weigh more than 1 pound are increasing by up to $2.11, mostly in 1-5 pounds.
Weight-Based Ground Advantage for shipments less than 1 pound are increasing by up to 33 cents for zones 6-8.
Ground Advantage Cubic rates are increasing by up to $1.67.
Priority Mail is increasing by up to $3.10:
Weight-Based Priority Mail rates are increasing by up to $3.10.
Priority Mail Cubic rates are increasing by up to $2.97.
Priority Mail Flat Rate prices are increasing by up to $1.18.
The new rates will lower the maximum discounts available for USPS compared to Retail Pricing from 89% to 88%.
Here's what's changing on July 14th
Media Mail rates will increase by up to 56 cents.
Signature Confirmation is going up by 20 cents to $3.70.
These rates are changing everywhere you can buy postage online—there's no escaping them, so be sure to always compare rates to get the best deal!