The U.S. Postal Service is seeking to increase the price of stamps this summer, asking that the price for first class stamps jump from 68 cents to 73 cents.
The request for the 5 cent first class stamp increase was made to the Postal Regulatory Commission on Tuesday, which must approve the proposed increase. If it is approved, this would go into effect July 14 and would increase stamp prices by 7.8%.
The price increase would apply to forever stamps, postcards, metered letters and international mail. In a release, the Postal Service noted there would be no price increase for post office box rentals, and there would be a 10% price reduction for postal insurance when mailing an item.
The USPS said it is also seeking price adjustments for products including Certified Mail and money order fees.
The price adjustments are to help with financial stability “as changes in the mailing and shipping marketplace continue,” the USPS said in a release.
Read more at USAtoday.com
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