USPS to Hike Price of Forever Stamps, 2nd Increase of 2024

You may want to purchase more stamps before a five cent increase is implemented this weekend on first-class postage by the USPS.

The price of 68 cents for Forever Stamps will jump to 73 cents each on Sunday, July 14th.

The price hike is the second passed along in 2024 and represents a 7% jump from the current 68 cents, implemented in January of this year.

The five-cent increase ties the steepest increase the USPS implemented in 2019 when it raised the cost of the Forever stamp from 50 to 55 cents.

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The USPS says it is raising prices to remain financially stable

"As changes in the mailing and shipping marketplace continue, these price adjustments are needed to achieve the financial stability sought by the organization’s Delivering for America 10-year plan," the USPS said in April of this year.

FOX Business reported the USPS had hoped to break even in 2023 as part of the plan, but instead reported net losses of $6.5 billion for fiscal year 2023. The Postal Service said first-class mail fell to the lowest volume since 1968.  USPS blamed the losses on inflation and the drop in mail volume.

Other USPS price Hikes

USPS customers will also start paying more this weekend for metered 1-ounce letters increasing from 64 cents to 69 cents, postcards sent domestically will rise from 53 cents to 56 cents.  International postcards and 1-ounce letters jump by 10 cents to $1.65.  The extra-ounce charge for a single letter will increase four cents to 28 cents.

However the USPS announced in April no price increases for post office box rental fees were planned at this time and customers could anticipate a 10% reduction in the fee for for postal insurance coverage on mailed items.