You may want to head to your local post office sooner rather than later. The cost of Forever stamps is going up this month.
A first-class Forever stamp is 68 cents, but on July 14, the price will rise more than 7%, costing 73 cents a stamp, USA Today reported.
The United States Postal Service announced the increase in April and was approved by the Postal Service Governors in May.
[ USPS looking into raising first-class stamp to 73 cents ]
The USPS said the increases for stamps and other services are part of the decade-long “Delivering for America” initiative introduced in 2021. The plan was developed to help make the postal service financially stable.
At the time the plan was announced, a stamp cost 55 cents.
The increase is expected to generate $44 billion in additional revenue by 2031, USA Today reported.
Other prices receiving adjustments include:
- Additional ounce for a letter increasing from 24 cents to 28 cents
- Metered 1-ounce letters will rise from 64 cents to 69 cents
- Domestic postcards will increase from 53 cents to 56 cents.
- International postcards will go up from $1.55 to $1.65.
- International 1-ounce letters will increase from $1.55 to $1.65
- Postal insurance will decrease by 10%
Post office rental fees will remain the same, while there will be “price adjustments” for other Special Services products such as Certified Mail and money orders.
[ USPS announces stamp that honors late ‘Jeopardy’ host Alex Trebek ]
No price increase is planned for USPS Ground Advantage, Priority Mail or Priority Mail Express, the USPS said.
Changes go into effect July 14.