Forever stamps are a convenient and cost-effective way to send mail, but with the upcoming price increase in 2024, you'll want to understand the changes. The cost of a forever stamp is set to rise to $0.83 from its current price of $0.68.
The price hike is a result of inflation and the increasing costs of sending mail. This change will affect all forever stamps, regardless of when they were purchased.
The price of a forever stamp will increase to $0.83 on January 28, 2024. This change applies to all domestic first-class mail.
Related reading: Cost of First Class Postage Stamp Us
Why Forever Stamps Are Increasing
The price of Forever stamps is increasing from 66 to 68 cents starting January 21, 2024. This is the second price hike since the summer, with the first hike raising the price from 63 to 66 cents in July.
The U.S. Postal Service (USPS) is implementing these price increases to address financial challenges, including a net loss of $6.5 billion in fiscal year 2023. The Postal Service aims to achieve financial stability through its 10-year Delivering for America plan.
See what others are reading: When Do Postal Rates Go up in 2024
The cost of mailing postcards is also going up, whether they are sent domestically or internationally, with the cost to mail international letters increasing from $1.50 to $1.55. The price adjustments are expected to raise mailing services product prices about 2%.
The decline in domestic first-class mail has contributed to the Postal Service's financial struggles, with a 52% decline in volume compared to 2007. The shift to digital communications and online transactions has led to this decline.
You might like: How Much Does a Removal Van Cost
Forever Stamp Price Increases
The price of Forever stamps has been on the rise in recent years, and 2024 is no exception. As of January 21, the price of a First-Class Mail Forever stamp increased from 66 cents to 68 cents.
The U.S. Postal Service (USPS) has been implementing aggressive price increases as part of its 10-year Delivering for America plan, enacted in 2021. This plan aims to make the USPS fiscally self-sufficient, but it's clear that the price hikes are affecting mail volume and the USPS's bottom line.
For more insights, see: Usps Announces New Forever Stamp Honoring Alex Trebek.
In fact, the USPS reported a $6.5 billion loss for fiscal 2023 and is projecting a $6.3 billion deficit in 2024. The price increases are not just limited to Forever stamps; other mail services, such as Priority Mail, Letters, and Postcards, are also seeing price hikes.
Here's a breakdown of the price increases:
The USPS has proposed another price increase for Forever stamps, this time to 73 cents, which is expected to take effect on July 14, 2024. This will be the second price hike for Forever stamps in 2024, following the increase from 66 to 68 cents in January.
A fresh viewpoint: How Many Cents Are Forever Stamps
USPS Mail Price Changes
The US Postal Service (USPS) has announced price increases for various mail services, including Forever stamps.
The price of a First-Class Mail Forever stamp will increase to 73 cents on July 14, 2024, up from the current 68 cents.
The latest price hike is part of the USPS's 10-year plan toward profitability, which aims to reduce the agency's financial challenges.
Take a look at this: Forever Stamps Price Increase
The proposed changes also include a nickel hike to the price to mail a 1-ounce metered letter, to 69 cents.
Mailing a postcard domestically will run you 56 cents, a 3-cent increase.
The price of mailing postcards and letters internationally are both rising by a dime to $1.65.
The proposed changes represent a roughly 7.8% increase in the price of sending mail through the USPS.
The price of Forever stamps rose to 68 cents in January, from 66 cents.
The USPS reported a $6.5 billion loss for fiscal 2023, and is projecting a $6.3 billion deficit in 2024.
The price of a First-Class Mail Forever stamp has increased several times in recent years, starting from 41 cents in 2007.
The USPS has approved the price adjustments, which raise mailing services product prices about 2%.
The cost of mailing international letters is going up from $1.50 to $1.55.
Expand your knowledge: Forever Stamps Increase 2024
Frequently Asked Questions
How much does a forever stamp cost in 2025?
As of the last update, a Forever stamp costs 78 cents. Please note that prices may have changed since the last update, and it's always best to check the current price before sending mail.
How much is a 1st class stamp in 2024?
As of October 2024, a 1st class stamp costs £1.65. Prices have risen multiple times in the past three years.
Sources
- https://www.cbsnews.com/news/forever-stamp-how-much-price-cost-usps/
- https://www.usatoday.com/story/news/nation/2024/07/12/usps-stamp-prices-2024-rise/74352095007/
- https://www.cbsnews.com/news/usps-prices-increase-forever-stamp-2024/
- https://www.foxbusiness.com/lifestyle/new-year-new-price-us-postal-service-making-stamps-more-expensive-2024
- https://www.fox26houston.com/news/stamp-prices-2024
Featured Images: pexels.com
