Page 2 THE MALDEN ADVOCATE–Friday, February 16, 2024 U.S. stamp prices rise again for 5th time in less than 3 years; now 68 cents to mail a letter By Steve Freker U .S. Stamp prices rose to 68 cents for a single general delivery letter in late January, which was the fi fth price hike in less than three years. According to U.S. Postal Service (USPS) offi cials, this probably won’t be the only stamp price increase in 2024, either. It is part of a fi - nancial course correction by the USPS, which has been aggressively raising stamp prices since August 2021. Still, in its announcement, the USPS called its prices continuing to be “among the most aff ordable in the world.” Since 2021 alone, when the price of a single general delivery stamp was 58 cents, this represents a nearly 20 percent increase in just three years – 10 cents per stamp. In an announcement this past October, USPS offi cials attributed the price increases to “inflationary pressures on operating expenses and the eff ects of a previously defective pricing model.” The USPS is by law mandated to sustain itself financial8 Norwood St. Everett (617) 387-9810 Open Daily 4:00 PM Closed Sunday Announcing our Classic Specials Dine In Only: * FREE Salad with purchase of Entree, Monday & Tuesdays * Cheese Pizza - Only $10 Catch ALL The Live Sports Action On Our Large Screen TV’s SHOP LOCAL & DROP BY FOR DINNER! www.eight10barandgrille.com JOHN MACKEY & ASSOCIATES ~ Attorneys at Law ~ * PERSONAL INJURY * REAL ESTATE * FAMILY LAW * PERSONAL BANKRUPTCY * LANDLORD/TENANT DISPUTES 14 Norwood Street Everett, MA 02149 Phone: (617) 387-4900 Fax: (617) 381-1755 WWW.JMACKEYLAW.COM Forever Stamps in 2024 – with the diff erent styles shown here – now cost 68 cents each, according to new increases put into place by the U.S. Postal Service. (Courtesy/USPS) ly rather than rely on taxpayer dollars, but the agency has been losing money for more than 15 years, according to an August report by the U.S. Government Accountability Offi ce (GAO). The USPS’s expenses continue to grow faster than revenues, according to the GAO report, which also notes that mail volumes are falling for some of the agency’s most profitable products. The latest round of rate changes includes the increase from 66 cents to 68 cents for a Forever stamp. Whatever price paid for the Forever stamp, it retains its value indefi nitely, hence the “Forever” designation. Forever stamps can be used for sending all regular-letter mail weighing less than one ounce. According to USPS officials, January’s price increases probably won’t be the only round of changes this year. The USPS has gotten into the habit of raising prices twice per year, each January and July, and that pacing will likely continue, according to the GAO report. When the newest rate hikes take eff ect, the price of a Forever stamp will be 24% higher than the January 2019–August 2021 price of 55 cents. Beyond Forever stamps, the USPS increased prices in January for most of its other products and services, too. The price of a domestic postcard will increase from 51 cents to 53 cents, while the price of mailing an international letter will go up from $1.50 to $1.55. Metered mail postage will rise from 63 cents to 64 cents. STAMP PRICE HISTORY: Since 2000, USPS firstclass stamp prices go up 17 times f it seems like the United States Postal Service (USPS) is more willing to raise prices more often lately, well, it is. According to USPS data, the service has increased the price of a fi rst-class stamp (for 1 ounce of mail) 17 times during the entire 20th century. But since the beginning of the 21st century, the USPS has already increased the price of a stamp 16 times – and we’re only 23 years into the century. For the record, here’s how much the price of a fi rst-class stamp has cost since 1885: —July 1, 1885: 2 cents. —November 2, 1917: 3 I cents. —July 1, 1919: 2 cents. —July 6, 1932: 3 cents. —August 1, 1958: 4 cents. —January 7, 1963: 5 cents. —January 7, 1968: 6 cents. —May 16, 1971: 8 cents. —March 2, 1974: 10 cents. —December 31, 1975: 13 cents. —May 29, 1978: 15 cents. —March 22, 1981: 18 cents. —November 1, 1981: 20 cents. —February 17, 1985: 22 cents. —April 3, 1988: 25 cents. —February 3, 1991: 29 cents. —January 1, 1995: 32 cents. —January 10, 1999: 33 cents. —January 7, 2001: 34 cents. —June 30, 2002: 37 cents. —January 8, 2006: 39 cents. —May 14, 2007: 41 cents. —May 12, 2008: 42 cents. —May 11, 2009: 44 cents. —January 22, 2012: 45 cents. —January 27, 2013: 46 cents. —January 26, 2014: 49 cents. —April 10, 2016: 47 cents. —January 22, 2017: 49 cents. —January 21, 2018: 50 cents. —January 27, 2019: 55 For Advertising with Results, call The Advocate Newspapers at 617-387-2200 or Info@advocatenews.net cents. —August 29, 2021: 58 cents. —July 10, 2022: 60 cents. —January 22, 2023: 63 cents. —July 9, 2023: 66 cents. To give more context to today’s 66-cent cost, it only slightly outpaces the rise of infl ation since 1885, when a fi rst-class stamp cost 2 cents. According to OfficalData. org’s CPI Infl ation Calculator, 2 cents in 1885 is equivalent to 63 cents in 2023 – a cumulative price change of over 3,000%.
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