The cost of a postage stamp went up by 3 cents on Sunday, marking the third increase in the price of stamps over the past 12 months by the U.S. Postal Service.
The price of a domestic first-class forever stamp — the type of stamp used to mail a first-class letter — rose to 66 cents from 63 cents. The increase went into effect on July 9.
The U.S. Postal Service said the 4.8% increase in price was necessary to “offset the rise in inflation.” The post office also raised the price of mailing domestic postcards, international postcards and international letters.
The price of stamps last increased in January, when postage went from 58 cents to 60 cents.
From the 1970s to 2000, the price of stamps went up about three to four times per decade, according to postal service data. But hikes have been coming more frequently over the past couple of decades: Stamp prices increased six times in the 2000s and seven times in the 2010s.
“These price adjustments are needed to provide the Postal Service with much-needed revenue,” the post office said.
The U.S. Postal Service handled more than 127 billion pieces of mail in 2022, compared with 207 billion in 2000.
Read more: USPS will electrify entire mail-delivery fleet within just a few years
The change in stamp prices comes a few weeks after the post office issued a warning about check fraud after a recent surge in attacks on letter carriers. Dropping off your mail at a post office instead of in a blue mailbox is safer, the postal service said.
Read the full article here
