BALTIMORE — Anyone needing to buy stamps might want to buy them before July 10th when the price of a forever stamp goes up from 58 cents to 60 cents.
The U.S. Postal Service is not only raising the price on how much it costs to buy a forever stamp but the price of sending metered letters, postcards, and international letters as well.
Postal officials said it relies on the sale of postage, products and services to fund its operations.
Between inflation and the pandemic, the Postal Service needs more money.
The cost of a forever stamp will go up two cents from 58 cents to 60 cents.
The price of one ounce metered letters also goes up. Metered mail will go up 4 cents from 53 cents to 57 cents. Each additional ounce goes up from 20 cents to 24 cents.
Postcards will go up 4 cents from 40 cents to 44 cents.
International letters will go up ten cents from a $1.30 to a $1.40.
Postal administrators say it's ‘Delivering for America plan’ published in March 2021 is a commitment to transform the Postal Service from an organization in financial and operational crisis to one that is self-sustaining and high performing.
These increases are designed to help meet that goal.
This isn't the first time the postal service has raised rates this year.
In January, the Postal Service raised the price of Priority Mail nearly 3%, and more than 4% percent for Priority Mail Express.
Postmaster General Louis DeJoy has said more price hikes are needed with possibly more coming in January 2023, if approved by the postal regulatory commission.
The Postal Service says it generally doesn't receive tax dollars for operating expenses; however, in April, President Biden signed legislation approving $50 billion dollars in taxpayer funded relief.
