US postage stamp and shipping prices go up Sunday

The Postal Service is making the changes as part of their plan to boost revenue.

January 19, 2024, 10:57 AM

The U.S. Postal Service will increase stamp prices starting Sunday, a USPS representative confirmed to "Good Morning America."

The cost of first-class stamps will rise from 66 cents to 68 cents for letters weighing one ounce or less.

PHOTO: Forever Stamp display at Costco, Queens, New York on March 1, 2023.
PHOTO: Forever Stamp display at Costco, Queens, New York on March 1, 2023.
UCG/Universal Images Group via Getty Images, FILE

Package shipping costs will also increase by nearly six percent, with Priority Mail Express costs going up by 5.9 percent, Priority Mail increasing by 5.7 percent, and Ground Advantage going up 5.4 percent.

The price hikes, the fifth increase in two years, are part of the Postal Service's ten-year "Delivering for America" plan to raise rates and recover from plunging profits – a projected $160 billion loss over the next ten years

Some of the cost-cutting measures have already translated into slower deliveries, while the increased prices will more significantly affect residents in the non-contiguous states and territories, like Alaska and Hawaii. Those areas will see an increase of more than nine percent, prompting lawmakers like Alaska Sen. Dan Sullivan to speak out.

"No state, including Alaska, should be punished by our own federal government because of geography," Sullivan said in part in a statement in December. "These hikes have the potential to severely negatively impact Alaskans – already reeling from inflation – who are more reliant on the USPS for basic goods and services than other Americans."

Related Topics