Current:Home > Invest"Forever" stamp prices are rising again. Here's when and how much they will cost. -TrueNorth Finance Path
"Forever" stamp prices are rising again. Here's when and how much they will cost.
View
Date:2025-04-16 07:30:56
Starting next week, the price of a "Forever" stamp will increase by a nickel to 73 cents, the second time the United States Postal Service has raised the cost of postage this year.
The price of a Forever stamp has steadily climbed since they cost 41 cents when the USPS introduced them in 2007, most recently in January when the agency raised the price from 66 cents to 68 cents.
Other postage rates are also set to jump. Mailing a postcard domestically will cost 56 cents, a 3-cent increase, while the price of mailing postcards and letters internationally are both rising by a dime to $1.65. Overall, postage costs are rising 7.8% increase, USPS said in a statement in April.
"These price adjustments are needed to achieve the financial stability sought by the organization's Delivering for America 10-year plan," the agency said at the time.
The new postage rates take effect on July 14.
USPS is in the midst of an effort to shed debt and boost revenue, including rising postage rates. U.S. Postmaster General Louis DeJoy has warned consumers that they are likely to see "uncomfortable" rate hikes as the Postal Service seeks to become self-sufficient. He has said price increases are long overdue after "at least 10 years of a defective pricing model."
By contrast, the price of renting a Post Office Box is not going up, and USPS will reduce the cost of postal insurance 10% when mailing an item, according to the agency.
Postage prices may be rising, but customers also have more Forever options to choose from. USPS in June began offering two new Forever stamps — one that depicts baseball legend Hank Aaron and another that pays homage to Canadian-American game show host Alex Trebek.
Aaron held professional baseball's home-run record for three decades until it was broken in 2007, while Trebek hosted Jeopardy until he died of pancreatic cancer in November 2020.
The USPS this year has also launched Forever stamps honoring former First Lady Betty Ford, University of California Los Angeles men's basketball coach John Wooden and some of the conductors of the Underground Railroad.
Still, the postage increases are hurting mail volume as well as the USPS' bottom line, some critics says. The agency in November reported a $6.5 billion loss for fiscal 2023 and is projecting a $6.3 billion deficit in 2024, according to Keep US Posted, a nonprofit advocacy group.
— The Associated Press contributed to this report.
- In:
- USPS
Khristopher J. Brooks is a reporter for CBS MoneyWatch. He previously worked as a reporter for the Omaha World-Herald, Newsday and the Florida Times-Union. His reporting primarily focuses on the U.S. housing market, the business of sports and bankruptcy.
TwitterveryGood! (2729)
Related
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Lightning strike kills Colorado rancher and 34 head of cattle
- Indiana vs. Las Vegas highlights: A’ja Wilson steals show against Caitlin Clark
- Dallas Mavericks take control of series vs. Minnesota Timberwolves with Game 3 win
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- General Hospital's Johnny Wactor Dead at 37 in Fatal Shooting
- Rafael Nadal ousted in first round at French Open. Was this his last at Roland Garros?
- When does 'America's Got Talent' return? Premiere date, judges, where to watch Season 19
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Massachusetts man arrested after stabbing attack in AMC theater, McDonald's injured 6 people
Ranking
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Kim Kardashian, Kris Jenner and More Send Love to Scott Disick on His 41st Birthday
- 12 people injured after Qatar Airways plane hits turbulence on flight to Dublin
- One chest of gold, five deaths: The search for Forrest Fenn's treasure
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- Q&A: Should We Be Having Babies In a Warming World?
- Gunman arrested after wounding 5 people in Los Angeles area home, firing at helicopter, police say
- First-place Seattle Mariners know what they're doing isn't sustainable in AL West race
Recommendation
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Brad Pitt and Angelina Jolie's 15-Year-Old Daughter Credited as Vivienne Jolie in Broadway Playbill
Taylor Swift adds three opening acts to her summer Eras Tour concerts in London
Mother pushes 2-year-old girl to safety just before fatal crash at Michigan drag race
Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
Bruce Springsteen and E Street postpone four European concerts amid 'vocal issues'
One family lost 2 sons during WWII. It took 80 years to bring the last soldier home.
2024 NCAA baseball tournament bracket: Road to College World Series unveiled