Due to inflation, stamp prices at the U.S. Postal Service are on the rise again.
Effective this Sunday, first-class Forever stamp prices will go from 60 cents to 63 cents. Officials say customers can expect price adjustments twice a year moving forward.
The Postal Regulatory Commission approved the price increase in November 2022, raising “First-Class Mail prices approximately 4.2% to offset the rise in inflation,” according to the United States Postal Service.
Aside from the Forever stamp increasing three cents, international letters and postcards will go from $1.40 to $1.45, one-ounce, metered mail will increase from 57 cents to 60 cents, and the price for domestic postcards will increase from 45 cents to 48 cents.
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On the upside, the price of Priority Mail retail products is decreasing – which include 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 flat additional-ounce prices.
Price changes implemented twice a year
“The Postal Service expects that, in each subsequent year, it will implement price changes for all Market Dominant classes in January and July of such year,” according to the Postal Regulatory Commission.
Operating expenses continue to rise and USPS is working on decreasing its debt. As of 2021, USPS is expected to be $160 billion in debt for the next 10 years. The price adjustments provide “much-needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan,” according to USPS.
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“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 yearly,” said Dearborn USPS Window Clerk, April Washington.
The cost-of-living increase was 8.7% as of Dec. 2022, according to the Social Security Administration.
Forever stamp prices were increased to 58 cents in August 2021 and then 60 cents in July 2022, Washington said.
Stock up on Forever stamps; beware of fake stamps
Given its name, Forever stamps are always valid and can be bought in bulk before prices go up Sunday. To purchase Forever stamps visit the USPS store online or Amazon.
To avoid scams, postal officials warned the public to steer clear from highly discounted postage stamps online. There is no way to distinguish whether the stamps are real or not, but fake stamps are usually sold in bulk through third party wholesalers online and can be anywhere from 20-50% off.
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