A Forever Stamps price increase is likely on the way as the United States Postal Service (USPS) wants to hike prices again this summer.
The USPS is proposing increasing the price of Forever Stamps from 68 cents each to 73 cents each. This would mark the fourth increase in the price of these first-class stamps in about one year.
It’s worth pointing out that this 5-cent increase is tied for the largest one ever introduced by the USPS. The last time it made such a stark increase to the price of Forever Stamps was in January 2019, when they jumped from 50 cents to 55 cents.
On top of that, the USPS is weighing price increases for other types of mail and services as well. That includes certified mail and the fees for creating a money order. The mailing service wants to introduce its new prices on July 14.
Forever Stamps Price Increase Woes
The Greeting Card Association and Association for Postal Commerce isn’t happy about the increase in Forever Stamps prices. It claims the following based on a report in March:
“If rate increases continue to proceed at this frequency and magnitude without critical review, it risks plummeting volume further and exacerbating USPS’s financial challenges.”
It’s also worth pointing out that all of this comes as the USPS continues to see a decrease in use of the postal service.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
