USPS Requests 5-Cent Bump in Stamp Prices

The United States Postal Service has proposed the largest one-time increase in the price of a stamp in nearly three decades.

The USPS wants to raise the price of a first-class mail stamp five cents, to $0.55. The five-cent increase would be the largest bump in the price of a stamp dating back to 1991, according to a published report. The increase must be approved by the Postal Regulatory Commission before it can be put into effect by the USPS.

While the cost of a one-ounce letter will increase by five cents, heavier letters would actually get a little cheaper under the proposed changes. Additional ounces would only cost 15 cents each, instead of the 21 cents they cost now. So a two-ounce letter would cost $0.70 ($0.55 for the first ounce and $0.15 for the second), compared with $0.71 ($0.50 for the first ounce and $0.21 for the second) now.

If approved, the changes would to into effect on Jan. 27, 2019.

“The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue,” the USPS said in a statement announcing the changes.