The Price of Forever Stamps Will Increase Again
Get ready to dig a little deeper into your pocket for postage as the U.S. Postal Service is set to raise the price of stamps once again, starting Sunday. This will mark the seventh increase in forever stamp prices since the start of 2019, with the cost of stamps going up twice just this year.
According to the U.S. Postal Service, the price of first-class “forever” stamps will be 73 cents each starting July 14, which is a 5 cent, or 7%, increase from its current price of 68 cents. This second price hike of 2024 follows two increases in forever stamp prices last year.
U.S. Postmaster General Louis DeJoy has emphasized the necessity of these rate hikes, stating that they are crucial for the postal agency to achieve self-sufficiency. He claims that these price adjustments are long overdue after years of operating on a flawed pricing model.
In addition to the forever stamp price increase, other USPS postage rates will also go up this weekend. Metered 1-ounce letters will rise from 64 to 69 cents, postcards mailed within the U.S. will increase from 53 cents to 56 cents, and international postcards and letters will jump from $1.55 to $1.65 each.
Despite these price hikes, the U.S. Postal Service maintains that its rates are still among the most affordable in the world. When adjusted for inflation, the 50 cents cost of stamps in January 2019 equates to about 62 cents in June 2024, according to the Bureau of Labor Statistics’ CPI inflation calculator.
So, as you prepare to send out your mail, be aware of these upcoming changes in postage prices. The Associated Press contributed to this report.
