The cost of a US stamp has increased again this year, to 66 cents

One of the numerous adjustments the U.S. has made is that stamp costs are rising once more.

This month saw the beginning of postal service.

The price of first-class “forever” stamps will increase from 63 to 66 cents as of this Sunday.

The most recent price hike follows many years of similar increases, which saw forever stamps go from 60 to 63 cents in January.

The USPS cited rising “operating expenses fueled by inflation” and the effects of “a previously defective pricing model” when it announced its intention to raise forever stamp prices to 66 cents earlier this year.

It added that changes to mail service costs “are needed to provide the Postal Service with much-needed revenue”.

A few other mail services will also experience price rises beginning on Sunday, in addition to everlasting stamps.

For instance, domestic postcards will cost 51 cents more to mail than first-class, one-ounce metered letters, which would cost 63 cents.

One-ounce letters and international postcards will both increase to $1.50. To replace and merge earlier programs, the Postal Service will also introduce a new package delivery service on Sunday called USPS Ground Advantage.

According to the Postal Service, the Ground Advantage pricing will reflect a 3.2% decrease in retail costs and a 0.7% decrease in business charges.

Prior to this month’s modifications, the Postal Regulatory Commission gave its approval to the pricing increases as well as the installation of Ground Advantage.

The Governors had also given their approval to the price increases.

Since the beginning of the year, when the postage was 50 cents per stamp, Sunday is the seventh price increase for everlasting stamps.

The Bureau of Labor Statistics’ CPI inflation calculator estimates that 50 cents in January 2019 will be equivalent to around 60 cents in the spring of 2023.

The Postal Service’s operational revenue for the first quarter of 2023 was $21.5 billion, up $206 million even though volume fell by 1.7 billion pieces, or 4.8%, from the same time the previous year.

For the first quarter as a whole, the Postal Service recorded a net loss of $1 billion, although that was an improvement of $519 million over the net loss of $1.5 billion during the same period last year.