USPS hikes the price of forever stamps by two cents

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(PHOTO: CNN)

WASHINGTON, D.C. — In accordance with inflation, the Postal Service has proposed hiking the price of a forever stamp from 47 cents back up to 49 cents in 2017.

This is the first time in three years the price of stamps has changed. However, forever stamps costing 49 cents is not new: they used to cost exactly that much, before the Postal Regulatory Commission ordered the Postal Service to lower prices.

The First-Class Mail prices are now as follows:

Current New
Letters (1 oz.) 47 cents 49 cents
Letters additional ounces  21 cents 21 cents
Letters to all international destinations $1.15  $1.15
Postcards 34 cents 34 cents

 

The PRC will review the new stamp price before it becomes effective on Jan. 22.

Because the Postal Service isn’t funded by tax dollars, it has to cover operational costs through revenue, including postage. When the price of stamps dropped from 49 cents to 47, the regulatory body acknowledged that this change would probably cost the USPS around $2 billion.