Forever Stamps have gotten a lot more expensive, relatively speaking.
The price of a first-class Forever Stamp went up a nickel Sunday, from 50 cents to 55 cents. That 10 percent increase is the largest single price jump in the history of the U.S. Postal Service, the Associated Press reports. The Postal Service has been running a multibillion-dollar deficit for years, and the price increase is an attempt to contend with an America that just doesn’t send as many letters as it used to.
The Postal Service lost $3.9 billion in 2018. First-class mail volume decreased by about 2.1 billion pieces. People are using different methods to send messages and money, Postmaster General Megan Brennan said. “The flawed business model imposed by law continues to be the root cause of our financial instability.” According to USA Today, “it was the 12th year in a row the agency reported a loss despite growth in package shipping.”
Read this story now for free
To continue reading, sign up for our newsletter and get unlimited access to WABE.org
You can select your preferences for news and local content. We will never share your email address. Learn how your newsletter sign-up will support WABE and Public Media
