The Price of a Forever Stamp Could Be Going Up...Again
INDIANAPOLIS -- The US Postal Service wants to raise the price of its first-class Forever stamp from 50 cents to 55 cents to help cover some of its financial losses.
If approved by regulators, the five-cent price increase would be the biggest since 1991. The price of each additional ounce would go down, from 21 cents to 15 cents.
The rates for Priority Mail Flat Rate service and First-Class Package Service would also increase.
The proposed increases would take effect January 27, 2019.
The Postal Service said Wednesday that the new rates will "keep the Postal Service competitive while providing the agency with needed revenue."
USPS has seen years of financial losses as it struggles with an unrelenting drop in mail volume and high health care and pension costs.
The US Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products, and services to fund its operations.
(Photo Illustration by Justin Sullivan/Getty Images.)