The agency has an annual budget deficit of $10 billion and, at the end of fiscal year 2020, was carrying $188 billion in debts and unfunded liabilities, the Government Accountability Office reported - mostly from underfunding of workers' pensions and retiree health care benefits. The rate hikes are part of Postmaster General Louis DeJoy's 10-year Delivering for America plan, intended to chip away at the Postal Service's mammoth debt. More detailed pricing information can be found on the Postal Service's Postal Explorer website. There was no price increase for Parcel Select Ground or USPS Connect Local, which allows businesses to offer same-day and next-day delivery for local customers. The new rates are still 'well below the rate of inflation,' the Postal Service said in a statement.

Priority Mail Express became 6.6% more expensive, First Class Package Service prices were bumped up by 7.8% and Priority Mail commercial rates increased by about 3.6%. The US Postal Service increased the cost of sending packages via Priority Mail by about 5.5%. You can buy stamps at online retailers like Amazon or directly at the US Postal Service website. First-class stamps increased from 60 cents to 63 cents, while international letters and postcards jumped from $1.40 to $1.45. The cost of first-class mail went up about 4.2% on average. Read more: What's the Cheapest Way to Ship: UPS, FedEx or US Postal Service? How much is the price of stamps going up? Here's what you need to know about stamp prices, including what the new rates are and what you can do to delay paying more.

Usps first class flat rate prices