The price of stamps increased by 5 cents on July 13, marking the sixth time the U.S. Postal Service has increased stamp prices since January 2021.
Formerly 73 cents, first-class forever stamps are now 78 cents. Here’s everything you need to know about the price of stamps going up.
What are forever stamps?
The forever stamp will always be equal in value to the current first-class mail 1-ounce price. If the cost of postal stamps increases before someone uses a previously purchased forever stamp, the forever stamp is still valid.
Why is the price going up?
USPS requested the latest increase in April following the declining use of first-class mail as more people rely on electronic mail and other forms of sending messages.
A price increase was overdue after “at least 10 years of a defective pricing model,” former U.S. Postmaster General Louis DeJoy said.
How much has the price changed in recent years, and will it change again?
The price of stamps has increased 18 times since 2000, with five of those increases occurring between January 2021 and January 2024, according to the Postal Service Office of Inspector General.
Five cents is the most the price of a stamp has increased at once, first occurring in January 2019. The cost of a postal stamp in July 2022 was 60 cents, which increased to 63 cents by January 2023. Roughly six months later, the price went up to 66 cents, then to 68 cents six months later, and then to 73 cents in July 2024, according to USPS.
Though the price changes might seem frequent and steep, the United States is faring better than more than 20 other countries regarding the cost of postage. The price of a U.S. stamp increased by 26% between June 2018 and June 2023. Meanwhile, the average price of a stamp outside the U.S. went up by 55% within the same time frame.
More changes should be expected in the future. DeJoy advised the public to get used to “uncomfortable” price increases as USPS tries to become self-sufficient.
What else is seeing increased prices?
Aside from forever stamps, other USPS items are seeing an increase in prices. The cost to send domestic postcards will increase from 56 cents to 62 cents, letters exceeding 1 ounce will increase from 69 cents to 74 cents, and international postcards will increase from $1.65 to $1.70, as well as international letters, according to WGAL.
About the USPS
DeJoy was appointed as the U.S. postmaster general in June 2020 and served in the position for almost five years. Until a replacement can be found for DeJoy, Deputy Postmaster General Doug Tulino has stepped into the role.
DeJoy resigned in March after President Donald Trump took office again and voiced his consideration to privatize USPS, meaning that mail service would no longer be public but rather owned and run by private companies. Many USPS employees have expressed concerns over the privatization of the agency, as many fear losing their jobs and possible delays.
US POSTAL SERVICE SHOULD EMBRACE PUBLIC-PRIVATE PARTNERSHIP
However, the privatization of USPS might allow the agency to increase its efficiency as it adjusts based on customer needs and demands. Since 2007, the agency has lost more than $50 billion and will continue to suffer losses unless changes are made, according to the Cato Institute.
No matter what Trump decides regarding the future of USPS, he can’t make any changes without approval from Congress.