USPS Stamp Price Increase Takes Effect

The price of a postage stamp from USPS has officially increased to 68 cents each, as of January 21st, 2024. Before then, a single Forever stamp (which indicates that the stamp can be used to send a one-ounce letter via First Class Mail in perpetuity) cost 66 cents.

USPS Cited Inflation as the Reason for the Increase in Stamp Prices

The U.S. Postal Service cited inflation as the main reason for the increase in prices for Forever stamps. In a press release USPS published in October 2023, the agency said the following:

“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.”

Stamp Prices for First Class Mail Have Increased Three Times in 12 Months

This most recent price increase marks the third rate hike for Forever stamps in 12 months, as well as the 18th time USPS has changed rates for First Class Mail stamps since 2000. According to historical USPS data, rates for First Class Mail stamps typically increased three to four times per decade between the 1970s and 2000. USPS imposed two price increases for stamps in 2023: once in January, and another time in July. Before that, the price of Forever stamps last increased in July 2022.

Where Can I Get Forever Stamps?

Customers interested in purchasing Forever stamps at the current price ($0.68 each) can pick up stamps in various quantities at their local Post Office, as well as on the USPS website (the USPS website contains a wider variety of stamp designs than Post Offices typically carry). Forever stamps can also sometimes be found at grocery stores, pharmacies, and select retail stores.