Key facts
- The U.S. Postal Service is increasing the price of a First-Class Mail Forever stamp from 78 cents to 82 cents.
- The new stamp price will take effect on Sunday, July 12.
- The Postal Service is experiencing severe financial difficulties, with warnings of running out of cash early next year.
- The agency's proposed price adjustment represents an approximate 4.8% increase in mailing services product prices.
- First-class mail volume has fallen significantly due to the shift towards digital communication.
The U.S. Postal Service announced it will increase the price of a First-Class Mail Forever stamp to 82 cents from 78 cents, effective Sunday, July 12. This move comes as the agency faces significant financial challenges, warning it could run out of cash early next year.
The Postal Service, which has incurred net losses of approximately $120 billion since 2007, is seeking legislative help to reform its business model. U.S. Postmaster General David Steiner informed Congress last month that the agency's operations are unsustainable with current first-class mail volume, which has fallen to levels not seen since the 1960s due to the widespread adoption of digital communication. Despite this decline, the Postal Service must continue to fund costly nationwide delivery services.
Steiner suggested that Americans might be willing to pay between 90 and 95 cents per letter, noting that postal prices in many other countries are considerably higher. The proposed price adjustments, approved by the Postal Service governors, represent an overall increase of about 4.8% for mailing services. The additional-ounce price for single-piece letters will remain at 29 cents. The Postal Regulatory Commission will review these changes before they are implemented.