Price Of Forever Stamps Increasing July 10 - Fox 29

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Postage stamps are pictured on pieces of mail inside the United States Postal Service (USPS) sorting center in Louisville, Kentucky, U.S., on Friday, Jan. 13, 2017. Photographer: Luke Sharrett/Bloomber

An increase in prices from the United States Postal Service goes into effect Sunday, July 10, 2022.

The new prices include a two-cent increase in the price of a First-Class Mail Forever stamp from 58 cents to 60 cents.

The price hike, which was approved by the Postal Regulatory Commission (PRC) in June, raises the price of First-Class mail by approximately 6.5%, which is lower than the Bureau of Labor Statistics' annual inflation rate of 8.6% as of May 2022.

The USPS had most recently raised prices last August, when the Forever Stamp increased from 55 cents to 58 cents.

As inflation and increased operating expenses continue, these price adjustments will help with the implementation of the Delivering for America plan, including a $40 billion investment in core Postal Service infrastructure over the next ten years, according to the USPS.

This story was reported from Detroit

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