Forever Stamp price set to go up 5 cents on Sunday

The U.S. Postal Service is set to increase the price of Forever stamps by 5 cents Sunday, bringing the cost of each to 73 cents and marking the largest price hike for Forever stamps in the last 10 years.

It will be the second price increase this year. In January, the price of Forever stamps increased 2 cents to 68 cents.

Why are prices increasing?

As part of the U.S. Postal Service's 10 year plan, published in 2021, the agency will increase the price of stamps, priority services and the cost to mail post cards and letters yearly. The price changes are an effort to shore up the post office's losses amid corporate competition and rising costs.

The U.S. Postal Service delivers to 167 million addresses every year. As that number increases, the amount of mail delivered to each address on average has decreased, costing the Postal Service more yearly.

In 2014 stamps cost 49 cents, meaning in 10 years there has been a 48% increase. If the Postal Service continues at this rate, in 2034, stamps could cost upward of a dollar.

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What does this mean for the Forever stamps I have already bought?

First Class Forever stamps that have been purchased before the nickel price increase continue to be valid, hence the name “forever” stamps.

Will the price of other items or services increase?

The price of mailing a postcard domestically will cost 3 cents more, going from 53 cents to 56 cents.

Mailing letters and postcards internationally will increase 10 cents to $1.65.

Julia Roeder, a Free Press apprentice, is a rising senior at Grosse Pointe South High School.

This article originally appeared on Aberdeen News: Forever Stamp price set to go up 5 cents on Sunday