The United States Postal Service has announced an increase in postal rates that will take effect on July 9th, 2023. The new rates include a 5.4% overall increase, with a three-cent boost in the price of a first-class mail forever stamp from 63 cents to 66 cents. The increase is based on three components allowed by PRC, with the CPI accounting for 3.4%, density rate authority at 0.9% and retirement rate authority is 1.0%. Additionally, Congress passed a regulation in 2021 that allows USPS to increase postal rates by two additional authorities besides CPI,
1.) Density to offset mail volume declines
2.) Retirement to fund USPS employee retirement – which ends after July 2026.