Due to inflation, US Postal Service stamp prices are on the rise again.
Beginning this Sunday, prices for Forever First Class stamps will drop from 60 cents to 63 cents. Officials say customers can expect price adjustments twice a year in the future.
The Postal Regulatory Commission approved the price increase in November 2022, raising “first-class mail prices by approximately 4.2% to offset rising inflation,” according to the United States Postal Service. .
What is changing?
In addition to the Forever stamp increasing by three cents, international letters and postcards will drop from $1.40 to $1.45, one-ounce metered mail will drop from 57 cents to 60 cents, and the price of domestic postcards will drop. from 45 cents to 48 cents.
On the upside, the price of Priority Mail retail products is falling — which includes flat-rate boxes and envelopes, according to USPS. No price increases will be made for Parcel Select Ground or USPS Connect Local shipping services, single piece letters, or fixed prices per additional ounce.
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Price changes implemented twice a year
“The Postal Service expects that, each year thereafter, it will implement price changes for all dominant market classes in January and July of this year,” according to the Postal Regulatory Commission.
Operating expenses continue to rise and USPS is working to reduce its debt. As of 2021, the USPS is expected to have $160 billion in debt for the next 10 years. The price adjustments provide “much-needed revenue to achieve the financial stability sought by its 10-year Delivering for America plan,” according to USPS.
“The cost of living is going up, so we have to raise our prices as well. Fuel is going up, cleaning supplies, food. … We adjust our prices every year,” said Dearborn USPS Window Clerk, April Washington.
The increase in the cost of living was 8.7% as of December 31. 2022, according to the Social Security Administration.
Forever stamp prices were increased to 58 cents in August 2021 and then to 60 cents in July 2022, Washington said.
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Stock up on Forever stamps; watch out for fake stamps
Given its name, Forever stamps are still valid and can be purchased in bulk before prices rise on Sunday. To purchase Forever stamps, visit the USPS online store or Amazon.
To avoid scams, postal authorities warned the public to avoid deeply discounted postage stamps online. There is no way to tell if the stamps are real or not, but fake stamps are usually wholesaled by third party wholesalers online and can be 20-50% off.
Contact Nour Rahal: nrahal@freepress.com