WASHINGTON, D.C. — The price of a first-class mail “Forever” stamp increased recently for the second time this year.
The cost for mailing a 1-ounce first-class letter was raised to 66 cents on Sunday, six months after the price increased to 63 cents. It was the fifth increase in “Forever” stamp prices since the start of 2019, when the postage cost 50 cents.
The cost of sending a first-class one-ounce metered letter also will increase 3 cents, to 63 cents, and the price to send a domestic postcard will increase from 48 cents to 51 cents.
As operating expenses fueled by inflation rose, and the effects of a previously defective pricing model are still being felt, “these price adjustments are needed to provide the Postal Service with much needed revenue to achieve the financial stability sought by its “Delivering for America” 10-year plan, USPS officials said. Prices of the U.S. Postal Service still remain among the most affordable in the world, they added.
The U.S. Postal Service is an independent federal establishment, mandated to be self-financing and to serve every American community through the affordable, reliable and secure delivery of mail and packages to nearly 165 million addresses six and often seven days a week.
The Postal Service’s operating revenue for the first quarter of this year was $21.5 billion; that was an increase of $206 million even though volume declined by 1.7 billion pieces, or 4.8%, compared to the same time period last year.
The USPS reported a net loss of $1 billion for the first quarter – compared to a $1.5 billion net loss during the same period last year.