It has been reported that the price of stamps is going up by 3 cents. The increase will raise the cost of a first-class “forever” stamp to 66 cents.
The U.S. Postal Service (USPS) is blaming the price hike on inflation, as well as what it labeled an earlier “defective pricing model.” The agency says the increase is necessary to offset rising operating expenses, which have been driven up by factors such as higher fuel prices and labor costs.
The price increase is likely to have a number of impacts on consumers. It will make it more expensive to mail letters and packages, which could lead to a decrease in mail volume. It could also make it more difficult for businesses to compete with online retailers, who don’t have to pay postage.