New York City, NY – Residents across New York City are expressing frustration over the U.S. Postal Service’s proposed hike in the price of first-class stamps to 73 cents, marking the fourth increase in less than two years. The substantial raise in postage costs, if approved, will affect various types of mail, with metered 1-ounce letters potentially costing 69 cents and international ounce-size letters and domestic postcards reaching $1.65 and 56 cents, respectively.
The price adjustment plan was unveiled this week and has been forwarded to the Postal Regulatory Commission for final approval. Should the commission give the green light, the new prices are anticipated to take effect in July, impacting millions of Americans who rely on postal services for communication and mail delivery.
The proposed rate hike comes following recent increases in stamp prices, raising concerns among senior citizens and individuals on fixed incomes who struggle to afford the rising costs. The current proposal has sparked mixed reactions, with some consumers accepting the changes as part of adjusting to economic shifts, while others, like New Yorker Jacqueline Pollen, find the price spike “absolutely ridiculous.”
Postal officials attribute the need for price adjustments to the Postal Service’s financial challenges, including a net loss of $6.5 billion in 2023 and declining revenue. Postmaster General Louis DeJoy emphasized the necessity of increasing postage rates to ensure the USPS’s long-term viability and sustainability, urging customers to prepare for ongoing adjustments until financial stability is achieved.
Despite concerns over rising postal prices, a USPS survey conducted in 2023 revealed that U.S. stamp prices remain comparatively lower than in 31 other countries. The data highlighted the challenges faced by the USPS in balancing financial sustainability with affordable mail services for American consumers.
As the debate over postal pricing continues, residents like Albert Quiles from Manhattan acknowledge the inevitability of adapting to the changes, emphasizing the importance of embracing evolving economic landscapes. With postal services striving to improve financial performance and efficiency, customers are encouraged to stay informed about forthcoming price adjustments and the Postal Service’s long-term strategies for financial stability.