US Postal Service rate increases take effect on Sunday

The next time you send mail via United States Postal Service (USPS)It will cost you more.

The USPS rate increase, which raised first-class mail rates by 6.5%, went into effect Sunday, according to the agency. When the USPS made its announcement in April, it indicated that the 6.5% increase would still be below inflation, which averages 8.6%.

However, this will likely not be the last Increase from USPS.

In May, Postmaster General Louis Dejoy said Americans should get used to “uncomfortable” increases in postal fees in the coming years as the US Postal Service strives to become self-sufficient.

The US Postal Service is almost slowing down first-class parcel deliveries

The Postal Services Board of Governors sets postage rates, but DeJoy said he will advocate raising rates until “we achieve our goal of setting a path that shows us self-sufficiency.”

This goal is set out in the USPS 10-year plan, Delivery to America. As part of this plan, the USPS is working to break even by fiscal year 2023 and avoid $160 billion in expected losses over the next 10 years.

The rate adjustments that will take effect Sunday will “help implement the Delivery to America plan, including investing $40 billion in basic postal services infrastructure over the next 10 years,” according to the USPS.

Below are the price changes, according to Stamps.com, a USPS independent seller.

• Price of first-class postage (1 ounce) for postage purchased at the Post Office: 2 cents increased to $0.60. Each additional ounce will cost $0.24.
• First Class Mail rate “rated mail” (1 ounce): Increased four cents to $0.57.

USPS places $3 billion order for 50,000 new delivery vehicles including 10,000 electric trucks

• First Class Mail Flats/Large Envelopes (1 ounce): Increased four cents to $1.20. Each additional ounce will cost $0.24.
• First Class Mail International (1 ounce): Increase a dime to $1.40.

Detailed display of the USPS logo on a priority mail piece. (Brett Carlsen/Getty Images/Getty Images)

• Postcards: Increase four cents to $0.44.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

• First Class Mail International (1 ounce): Increase a dime to $1.40.
• Certified Mail: Increased by twenty-five cents to $4.00.
• Media Mail: 9% increase to $3.49.

The Associated Press contributed to this report.