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The U.S. Post Office will raise the price of a First Class Forever Stamp by 2 cents, from 58 cents to 60 cents, starting July 10. Forever Stamps can be bought at the current first-class postage rate and they remain valid even if the price increases in the future, meaning you could load up on 58-cent stamps before the hike.
The new price, USPS points out, is an increase of about 6.5%, lower than the Bureau of Labor Statistics’ annual inflation rate of 7.9% as of the end of February.
“As inflation and increased operating expenses continue, these price adjustments will help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next 10 years. With the new prices, the Postal Service will continue to provide the lowest letter-mail postage rates in the industrialized world and offer a great value in shipping,” USPS said in a statement.
The price of a Forever Stamp went up a little less than a year ago, from 55 to 58 cents.
Other price changes will take place as well. A single-piece letter additional ounce will go from 20 cents to 24 cents; domestic postcards will go from 40 cents to 44 cents; and international letters will go from $1.30 to $1.40.
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