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Price of Forever stamp rises to 63 cents

Posted at 12:16 PM, Jan 23, 2023
and last updated 2023-01-23 14:25:37-05

Mailing a letter will cost more in 2023.

The cost of a Forever stamp jumped from 60¢ to 63¢ on Sunday.

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

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.