![]() “As operating expenses continue to rise, these price adjustments provide the Postal Service with much needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan. The increase in First-Class Mail postage is needed to offset the rise in inflation, the postal service said in October when it announced the price hikes. As its name implies, you can use a Forever stamp regardless of what price you paid for it or when you bought it. Are Forever stamps still good for postage? The price hike goes into effect on Sunday, Jan. When does the postage increase take place? The price of a First-Class Mail Forever stamp will increase to 63 cents from 60 cents. How much does it cost to mail a letter in 2023? Even with the passage of the act, the USPS expects to lose $110 billion over the next decade, DeJoy said. In May 2022, DeJoy said he expected the Postal Service to continue to raise prices "at an uncomfortable rate" until the agency becomes self-sufficient.ĭeJoy’s remarks followed the passage and signing into law of the Postal Service Reform Act of 2022, legislation designed to bolster the agency facing increased competition and financial challenges, including 14 straight years of net losses, USA TODAY reported. Postal Service raised the cost of a Forever stamp to 60 cents – a two-cent increase at the time – the service is raising the price to mail a letter another three cents, a move first forecast by Postmaster General Louis DeJoy last year. The cost to mail a letter, greeting card or bill payment is going up.
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