Ready to pay more to mail a letter? The USPS is hoping so, as it has announced plans to hike the rate for sending a letter to 66 cents. The 5.4% increase will span all first-class mail products — and it's the fourth rate hike in two years.
If you feel as if this happens a lot, you're not wrong. Since 2019, the USPS has increased postage rates a whopping 16 cents, or 32 percent.
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If it helps, know that sending letters in the U.S. is still cheaper than almost any other country in the developed world.
In a press release, USPS explained the price hike, and spoiler alert — it's partly caused by inflation. "As operating expenses fueled by inflation continue to rise, and the effects of a previously defective pricing model are still being felt, these price adjustments are needed to provide the Postal Service with much-needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan. The prices of the U.S. Postal Service remain among the most affordable in the world.