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Price of Forever stamp rises to 63 cents

IFILL BLACK HERITAGE STAMP
Posted at 2:16 PM, Jan 23, 2023
and last updated 2023-01-23 14:16:34-05

Mailing a letter will cost more in 2023. The cost of a Forever stamp jumped from 60 cents to 63 cents on Sunday.

The cost of mailing a postcard also increased. It went from 44 cents to 48 cents.

The Postal Service said the increased prices are meant to offset the rise in inflation.

"As operating expenses continue to rise, these price adjustments provide the Postal Service with much-needed revenue to achieve the financial stability sought by its Delivering for America 10-year plan," the Postal Service said in a statement when it announced the new prices in October.

The 10-year plan was started in 2021. Officials claim the Postal Service will begin achieving a net income within the first three years and a "break-even operating performance over the next 10 years."

In addition to price increases, the Postal Service is combining what it calls regulatory and legislative actions to avoid $160 billion in projected losses by 2030.