The United States Postal Service (USPS) will increase the price of a first-class Forever stamp from 78 cents to 82 cents starting Sunday, July 12. This marks the second consecutive year of a significant price hike. The USPS proposed higher rates for the Forever stamp and other products in April, citing a severe financial crisis and rising operational costs.
Price Increases
The Postal Regulatory Commission approved the changes on May 27, paving the way for the increased prices. The USPS has consistently increased the price of a stamp since the 1960s, with steeper rises in recent years. The Forever stamp, first introduced in 2007, will have doubled from its initial price of 41 cents.
Other postal products, such as postcards and international letters, will also see price increases starting July 12. Overall, the USPS says it is raising product prices by about 4.8%. The USPS’s operating costs have risen faster than its revenue, according to a May analysis from the Postal Regulatory Commission.
Original reporting: NBC10 Boston — read the source article.
