- USPS is set to increase stamp prices in 2024 due to inflation.
- First-Class Mail Forever stamp might see a 2-cent increase.
- This move follows a previous 4.2 percent increase from last year.
The United States Postal Service (USPS) dropped a bombshell on Friday: the cost of sending your mail is about to jump once more.
Come 2024, stamps may burn a larger hole in your pocket, thanks to what the USPS describes as “inflationary pressures.”
Pending approval from the Postal Regulatory Commission, these fresh rates, expected to roll out on January 21, 2024, aren’t limited to a mere two cents.
In fact, the overall service prices are projected to swell by approximately 2 percent, the USPS revealed.
In a statement, USPS elaborated on the reasons behind the move: “As inflationary pressures on operating expenses continue and the effects of a previously defective pricing model are still being felt, these price adjustments are needed to provide the Postal Service with much-needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan.”
Notably, this isn’t a standalone decision.
Just last year, the USPS shocked many when it jacked up prices by an estimated 4.2 percent, a maneuver justified as a means to combat the spiraling operational costs.
But for those already clutching their stockpile of Forever stamps, there’s some consolation. True to their name, these stamps will be accepted by USPS indefinitely, regardless of their purchase date.
This means that even if you’ve bought them at today’s rates, they’ll still be valid after 2024’s impending price surge.
For the forward-thinking among us, it’s a call to action—stock up now and secure savings for the future.
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