Inflation takes a bite out of everything. Now, the price of stamps may be going up soon as well. The U.S. Postal Service (USPS) announced it intends to raise the price of a first-class stamp from 63 to 66 cents, a 4.8 percent increase effective July 9. A first-class stamp pays for the cost of sending a one-ounce letter. Each additional ounce will still cost another 24 cents.
The U.S. Postal Regulatory Commission still must approve the proposed change, which also includes increases in other postal services. The USPS will hike a metered letter from 60 to 63 cents and a postcard from 48 to 51 cents. If you send a letter internationally, the cost will jump from $1.45 to $1.50.
The cost of postage has steadily increased over time to cover the rising costs of delivering mail countrywide. For example, in 2001 a first-class stamp cost 34 cents. Just a decade ago, the price was 46 cents. The time is now to stock up on “Forever” stamps before the price hike.
Your Money Shouldn’t be Withheld from Social Security
During retirement, extra income can mean a lot. Here at Council of Seniors, we’re dedicated to getting Congress to pass The SAVE Benefits Act. Because the annual Social Security cost-of-living adjustment (COLA) hasn’t kept pace with inflation over time, this bill is necessary. We need it to return the amount of $581 to seniors.
Sign our petition without delay and tell others to help too.
We’d love for you to connect with us on Facebook and Twitter!