Get ready for higher postage prices: What you need to know

The cost of just about everything has been rising recently. Forever stamps from the U.S. Postal Service are not exempt. On Sunday, they will increase from 68 cents to 73 cents, a 7% difference.

Why does this sound familiar?

This is the second time the price has gone up this year alone. In January, the rate went from 66 cents to 68 cents.

The latest rate hike was announced in April. “As changes in the mailing and shipping marketplace continue, these price adjustments are needed to achieve the financial stability sought by the organization’s Delivering for America 10-year plan. USPS prices remain among the most affordable in the world,” the agency explained.

Are other Postal Service prices increasing, too?

The first-class Forever stamp is one of many items that are seeing a price increase. To send a postcard domestically, it will now cost 56 cents, a 3-cent upcharge. To send a letter or postcard internationally, your postage will be 10 cents more, at $1.65.

However, the cost of renting a Post Office box remains the same, and postal insurance for sending important mail is actually going down 10%.

A brief history of Forever stamps and postal price hikes

Forever stamps were introduced in April 2007 and sported a picture of the Liberty Bell. They cost 41 cents at the time and will always equal a regular first-class mail stamp. They were invented with ease of use in mind because you can always mail a 1-ounce letter with them without worrying about the current price of a stamp.

U.S. Postmaster General Louis DeJoy is determined to make the Postal Service self-sufficient. He has warned the public to get used to “uncomfortable” price changes. He believes they are necessary after “at least 10 years of a defective pricing model.”

It’s hard to believe now, but in July 1863, it cost just 3 cents to mail a letter weighing half an ounce. That price actually went down a penny in October of the same year. In 1885, the price changed to 2 cents for an ounce. The price wouldn’t increase again until 1917, and even then, it went up just 1 cent.