US Postal Service increases stamp price to 73 cents

US Postal Service increases stamp price to 73 cents

The U.S. Postal Service made its price hike official Friday, raising the price of stamps from 68 cents to 73 cents.

Five years ago, stamps cost 50 cents, making this latest price hike a 36% increase. Stamp sales help to fund the Postal Service, as it does not receive tax dollars toward its operating expenses. The hike will result in an anticipated $44 billion in revenue by 2031.

Last November, the Postal Service reported an annual loss of $6.5 billion. That year first-class mail was at its lowest volume since 1968. 

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The Government Accountability Office wrote on its Watchblog last August that Postal Service revenues “haven’t covered its expenses and debt for more than 15 years. And its expenses are growing faster than its revenues,

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