Should I Buy Extra Stamps before the Rates Go Up?
“What? Didn’t they just go up last August?” you ask.
Yes, and they will go up again on July 10, 2022. First-class postage will increase by two cents every January and July for the foreseeable future.
Inflation and More
Since the 1980s, postage rates have matched the increase in the consumer price index. So, we have not been “paying more” for stamps with an adjustment for inflation.
However, according to don’twasteyourmoney.com in April 2022, “The increase would raise First-Class Mail prices approximately 6.5%, which USPS points out is lower than the annual inflation rate of 7.9%, which is the highest single-year jump since 1982. However, the cost of stamps also increased last year, in August, from 55 cents to 58 cents. If the latest increase is approved, that will mark a 9% increase in less than a year.” (the increase was approved after this article was published).
Our 75th U.S. Postmaster General, Louis DeJoy, has been making major changes. He was a CEO with experience in supply chain logistics and is working on the post office’s business model and services. USPS needs more ways to bring in income.
Many of us are using online services instead of U.S.mail.
I could find more reasons for rate increases, but that’s not the question for this blog post.
Should you buy extra stamps before the rate increases? I decided to, you might want to as well.
Stocking Up
In the past, I’ve done a little pre-buying before each rate increase, but this time I’ve decided to buy much more. (I order my stamps online.)
According to USA Today, “Postmaster General Louis DeJoy said [on] May 5 he expected the Postal Service to continue to raise prices ‘at an uncomfortable rate’ until the agency becomes self-sufficient.”
That sounds like a good reason to me. Also, first-class rates will be increasing by two cents every six months.
The proposed July 10th price changes include:
|
Product |
Current Prices |
July Prices |
|
Letters (1 oz.) |
58 cents |
60 cents |
|
Letters (metered 1 oz.) |
53 cents |
57 cents |
|
Letters additional ounce(s) |
20 cents |
24 cents |
|
Domestic Postcards |
40 cents |
44 cents |
|
International Letter (1 oz.) |
$1.30 cents |
$1.40 cents |
The past two years especially, I switched some of our prayer letter mailings to MailChimp (if our ministry partners requested an emailed letter).
However, I still prefer to send a printed letter with an attractive stamp. We’ve received nice comments about these from our financial partners.
What have you decided to do?
NOTES:
- My sources are:
- USPS wants to hike stamp prices in July. It’s just the beginning of a plan to raise prices at ‘an uncomfortable rate.’ (USA Today)
- The price of stamps could increase every 6 months beginning in July 2022 (DontWasteYourMoney.com)
- July 2022 Postage Price Changes (USPS.com)
- The historical trend graph for postage rates on Wikipedia.
- DeJoy is poised to remake a resurgent USPS. Now comes the hard part. (The Washington Post)
- The photo of the mailboxes is available from Sharon Waldron on Unsplash
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