USPS plans 5.4% stamp price increase in latest rate hike.
The US Postal Service is increasing the cost of a first-class stamp from 63 cents to 66 cents, marking its fourth rate hike in two years. The new rates, which cover other mail items including periodicals and advertising mailers, are set to take effect on July 9. The price increases are part of Postmaster General Louis DeJoy’s turnaround of the mail agency, which was facing hundreds of billions of dollars in unpayable liabilities when he took assumed the role in June 2020. However, critics say continued price increases harm the Postal Service’s financial stability.