The cost of mailing a letter is going up again.
The U.S. Postal Service will increase the price of a First-Class Forever Stamp from 78 cents to 82 cents beginning Sunday, July 12. The 4-cent increase is part of an overall 4.8% price adjustment that USPS says is necessary to help offset rising operating expenses while continuing to provide universal mail service.
Several other mailing rates are also increasing. Metered 1-ounce letters will rise to 78 cents, while international letters and postcards will increase to $1.75. Domestic postcard prices are also increasing. The additional-ounce rate for single-piece letters will remain unchanged at 29 cents.
USPS reported a net loss of $2.7 billion in its latest financial report. Postal officials say declining First-Class Mail volume and increasing operating costs continue to create financial challenges.
Postmaster General David Steiner recently told Congress that unlike a private business, the Postal Service cannot simply eliminate unprofitable delivery routes or close locations because it is required to provide nationwide service. USPS has also implemented a hiring freeze as part of its cost-saving efforts.
Customers who already have Forever Stamps do not need to worry. Forever Stamps purchased before the increase will continue to cover the cost of mailing a standard 1-ounce First-Class letter, even after the new rates take effect.
If you regularly mail letters, paying bills, or sending greeting cards, purchasing Forever Stamps before July 12 could save money.
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