Due to inflation, stamp prices at the U.S. Postal Service are on the rise again. First-class Forever stamp prices will go from 60 cents to 63 cents. Officials say customers can expect price adjustments twice a year moving forward.
On the upside, the price of Priority Mail retail products is decreasing – which include flat rate boxes and envelopes, according to USPS. No price increases will be made for Parcel Select Ground or USPS Connect Local shipping services, single-piece letters or flat additional-ounce prices.
Operating expenses continue to rise and USPS is working on decreasing its debt. As of 2021, USPS is expected to be $160 billion in debt for the next 10 years. The price adjustments provide"much-needed revenue to achieve the financial stability sought by its"The cost of living is going up, so we have to raise our prices as well. Fuel is going up, cleaning supplies, food. ...We adjust our prices yearly," said Dearborn USPS Window Clerk, April Washington.
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