First-class stamp expected to increase to 60¢ in July

It will likely cost more soon to mail a letter.

The U.S. Postal Service wants to raise the price of a first-class stamp from 58¢ to 60¢.

While that’s a 6.5% increase, the Postal Service says it’s lower than the Bureau of Labor Statistics’ annual inflation rate of 7.9%.

If the Postal Regulatory Commission agrees with the price hike, it would take effect July 10.

The last major price increase was on August 29, 2021.

Read more: | Stamp prices through the years