The US Postal Service (USPS) postal price hike will begin next week as the country struggles with rising inflation.
Forever Stamp and four other Stamp products, which will increase from 58 cents to 60 cents, will see a price increase on July 10. The USPS announced price increases for these products on April 6. .
Introduced in 2007, the Forever stamp “can be used to send an ounce of mail when stamps are purchased or used and regardless of whether prices change in the future,” says the USPS website. .
If someone buys the Forever Stamp for 58 cents on July 9, they can use the stamp indefinitely.
Other products, including Forever Stamp, will go through price increases on July 10, according to the USPS website:
| Letters (1 oz) | 58 cents | 60 cents |
| Letters (measured in 1 ounce) | 53 cents | 57 cents |
| letters extra ounce | 20 cents | 24 cents |
| Domestic postcards | 40 cents | 44 cents |
| International Mail (1 oz) | $1.30 | $1.40 |
The USPS said in a press release in April that the price increase was only 6.5% lower than the national inflation rate. The annual inflation rate in May was 8.6 percent, according to the Bureau of Labor Statistics website.
According to NEXSTAR, the price of Forever Stamps rose from 55 cents to 58 cents in less than a year.
Postmaster General Louis DeJoy said in May that he thinks Americans should get used to the high prices of stamps and stamps.
“I think we’ve been severely impacted by a flawed pricing model for at least 10 years that hasn’t been able to keep up with a year or two of price increase, especially in this inflationary environment,” DeJoy said.
Prices for goods and services are rising nationwide as consumers and businesses grapple with 40 years of high inflation under President Joe Biden. Fireworks are another inflation-affected product that Americans may notice over the Fourth of July weekend.
You can follow Ethan Letkeman on Twitter at: @EthanLetkeman.
Source: Breitbart
