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The U.S. Postal Service plans to increase the price of a stamp to $0.66 in July, part of a 5.4% overall increase from current First-Class mail rates.
The hike is the full amount authorized under the mailing agency’s rate-setting authority and would mark the latest of several significant increases under Postmaster General Louis DeJoy. USPS said the change was necessary to keep pace with inflation, though DeJoy has previously suggested the increases would continue to allow the Postal Service to reach a financial break-even point.
The Postal Service will also increase rates for packages and marketing mail by 5.4%. Periodicals will see an 8.1% spike.