In the fifth price increase in two years, the U.S. Postal Service is raising the price of Forever stamps to 68 cents starting Jan. 21. When the stamps were introduced in 2007, they cost 41 cents.
The US Postal Service announces an increase in stamp prices in 2024
Next year, the U.S. Postal Service is implementing a price increase for First Class Mail Forever stamps. The cost increases from 66 to 68 cents.
Forever stamps will soon cost more. The U.S. Postal Service will increase the cost of Forever stamps to 68 cents on Jan. 21, up from the previous price of 66 cents. When Forever stamps were introduced in 2007, the price per stamp was 41 cents.
The stamps were called “Forever” stamps so that when you purchased them you knew the stamp would be suitable for mailing “forever.” Therefore, any stamps you own that cost 66 cents or less can still be used, even if prices now go up.
For example, a new Love stamp released on January 12th was initially sold at the first class price of 66 cents. When most post offices begin selling the stamp on Monday, January 22nd, all Forever stamps, including the new Love stamp, will cost 68 cents. Since the price change actually goes into effect on Sunday, January 21st, any post office open on Sunday will sell stamps for 68 cents; and stamps sold on usps.com are offered at a higher price.
USPS price increase: The US Postal Service is proposing new stamp price increases to begin in 2024
Why is the postal service increasing the price of Forever stamps?
The price increase is part of a rate increase proposed in October and approved by the Postal Service Board of Governors in November 2023.
The increases are part of the Postal Service's 10-year “Delivering for America” plan, which was approved by Postmaster General Louis DeJoy in 2021. The plan is “absolutely necessary to put the Postal Service on a path to service excellence and financial stability,” he told a U.S. House committee in May 2023.
Some have criticized the plan, saying the rate increases – five in two years – came because mail volume has declined and the Postal Service continues to lose money.
“The Postal Service just posted a $6.5 billion operating loss in 2023 and is forecasting a $6.3 billion loss in 2024 — all after receiving a $120 billion subsidy in 2022. dollars from Congress,” said Kevin Yoder, executive director of Keep US Posted, a nonprofit professional-profit advocacy group. “It’s time for Louis DeJoy to abandon the Delivering for America plan’s twice-yearly stamp increases. Traditional mail is still the biggest moneymaker for USPS, and any rate increase only drives more mail out of the system.”
More than a dozen members of Congress, led by Missouri Reps. Emanuel Cleaver (D, Missouri) and Sam Graves (R, Missouri), have penned a letter to Postal Service governors, expected to be sent on Monday, asking them for further increases of stamp prices until the impact of recent increases on postal volumes and revenues can be assessed.
“While we greatly value the USPS's services and appreciate the challenges it faces, we cannot ignore recent reports showing that the USPS's reliance on frequent and steep rate increases has been misguided and destructive,” one said Copy of a draft letter provided TODAY to the USA. “Therefore, we urge governors to halt further rate increases and immediately reassess how the long-term viability of the USPS could be threatened by these continued increases.”
USPS price increase: Price increases for Postal Service and Forever first class stamps
What else will cost more?
Other services will also see an increase, including Priority Mail (5.7%), Priority Mail Express (5.9%) and USPS Ground Advantage (5.4%). Here are some other price increases that will take effect on January 21st:
|Prices before January 21st
|Letters (1 ounce)
|Letters (measured 1 ounce)
|International Letter (1 ounce)
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