Stamp Shock: Navigating the Sixth Price Hike Since 2019

From the Henssler Financial Studio this is your news minute on the Gwinnett Daily Post Podcast presented by Engineered Solutions of Georgia. Today is Monday, January 22nd, and I'm Keith Ippolito.

Stamp Shock: Navigating the Sixth Price Hike Since 2019

The United States Postal Service (USPS) has announced yet another increase in the price of first-class "forever" stamps, marking the sixth rise since 2019. Starting from Sunday, the cost of these stamps will surge from 66 to 68 cents. This follows two increases in 2023, when the price of forever stamps rose from 60 to 63 cents in January, and then again to 66 cents in July.

Additionally, the prices for domestic postcard stamps will increase from 51 to 53 cents and international postcards will go from $1.50 to $1.55.

The USPS justified this increase by pointing to rising operating expenses due to inflation and the impacts of a previously flawed pricing model. They emphasized that changes to mail service costs are necessary to provide the Postal Service with much-needed revenue.

Despite these increases, the USPS maintains that its prices remain among the most affordable globally.

When adjusted for inflation, the price of postage in January 2019, which was 50 cents, equates to about 61 cents in spring 2023, according to the Bureau of Labor Statistics' CPI inflation calculator.

For more news about our community, visit gwinnettdailypost.com. For the Gwinnett Daily Post Podcast, I'm Keith Ippolito.

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