The USPS, like all of us, is looking for ways to offset growing operating expenses and inflation in 2023. Back in March 2021, the Postal Service announced Delivery for America, a 10-year plan to help the delivery service get back on their feet after years of financial troubles. There have been some changes to the overall delivery standards and pricing structures. How does this affect you? By the end of this month, we’ll see some increased fees along with higher prices on your PO Box cost, plus mailing and shipping services.
In late November, the Postal Regulatory Commission (PRC) approved a proposal to raise the price of stamps in January 2023, but we’ll also see rate hikes for P.O. Boxes this year as well. Here’s what we know so far.
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Expect P.O. Box cost to increase on Jan. 22, 2023.
These price increases are going to affect P.O. Boxes. P.O. Box holders received a notice reminding them to renew their boxes prior to the price increase on Jan. 22, 2023. The fees and increases will depend on the box size and type, as well as location. Using these links, you can compare the current P.O. Box cost with the new rates for 2023. Overall, the average increase is right around 6.5%, with some boxes and locations seeing higher and some seeing lower. Comparing the two charts, we notice some with a $4 increase for a 6-month period, while others see a $40 increase for a 6-month period.
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Renew your P.O. Box this month to avoid increased fees.
Wait, can you push off this price increase for another year? Yes, you can if you act now. A spokesperson for the USPS stated that if your renewal fee is postmarked by Jan. 22, 2023, you can pay your current rate for the year. So even if your renewal due date comes later in 2023, provide the payment now and you’ll lock in the current price without the new fees for 2023. Visit usps.com/poboxes to renew before Jan. 22 for more information and to renew at your current rate.
Here’s a list of other USPS increases for the new year.
P.O. Boxes aren’t the only increase we’ll see in 2023. The PRC also approved an increase in stamp prices up to $0.63 per stamp. We’ll see a 5.5% increase in Priority Mail services, a 6.6% increase in Priority Mail Express, and a 7.8% hike in First-Class Package Service prices. There will be no increase for Parcel Select Ground. While the USPS still does not charge surcharges for Saturday delivery, we expect another increase in July. All the more reason to renew that P.O. Box right away.