USPS Stamp Price Increase Begins Sunday, But Forever Stamps Hold Old Prices

The price of stamps will increase by 2 cents on Sunday – unless you lock the current prices with Forever stamps.

Why it matters: Prices of just about everything have risen with record inflation, but the US Postal Service says the 6.5% increase is below inflation and will help “implement the Delivering for America plan”.

Details: With the new rates, the shipping cost for a 1-ounce letter is 60 cents, up from 58 cents.

  • Each additional ounce is 24 cents, an increase of 20 cents.
  • Postcards are 4 cents and cost 44 cents to send.
  • 1-ounce metered mail is 57 cents, also an increase of 4 cents.
  • USPS said it is also “looking for price adjustments” for products, including certified mail, PO box rental fees, money order fees and the cost of buying insurance when shipping an item.
Forever stamp price rises

Looking back: The Postal Service began selling Forever stamps in 2007, when they cost 41 cents.

  • According to the USPS website, since 2011, all first-class commemorative stamps have been issued as forever stamps.
  • Last August, stamps rose from 55 to 58 cents as part of Postmaster General Louis DeJoy’s ten-year plan “to achieve financial sustainability,” Axios’ Oriana Gonzalez reported.

What’s next: More price hikes are coming, DeJoy said at the May 5 board meeting.

What he says: “The mailing industry must be prepared for the continued use of our power to raise the prices of market-dominant products at an uncomfortable pace until we meet our goal of charting a trajectory that demonstrates that we are becoming self-sufficient – ​​as required by the law,” said DeJoy.

  • “I believe we have been badly damaged by at least 10 years of a flawed pricing model — which cannot be met by one or two annual price hikes — especially in this inflationary environment,” he said.

Our Thought Bubble: As stamp prices are expected to continue to rise, Forever stamps can save you from feeling the impact of future hikes.

  • Someone with the original 2007 Forever stamps will save 19 cents with every letter they send after Sunday.
  • And if you still have 2018 Forever stamps that cost 50 cents each, you will save 10 cents with the old stamps.

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