Nothing lasts forever.
Stamp prices will climb 1 cent starting in January, the U.S. Postal Service said Tuesday.
The cost of a first-class stamp — also known as a forever stamp — will rise to 45 cents on Jan. 22, the first price increase in more than 21 / 2 years, the USPS said. The cost of sending magazines, standard mail and some package services also will rise, but prices for Express Mail and Priority Mail will stay the same.
The 1-cent increase is expected to generate an additional $888 million in revenue, postal officials said Tuesday.
The jump “is small and is needed to help address our current financial crisis,” Postmaster General Patrick R. Donahoe said in a statement, adding that although the USPS continues to “aggressively cut costs,” it needs Congress to pass postal reform legislation that he said would make it easier to save money.
Starting Jan. 22, the USPS said rates will be:
●First-class letters (1 ounce): 1-cent increase to 45 cents.
●Letters weighing additional ounces: unchanged at 20 cents.
●Postcards: 3-cent increase to 32 cents.
●Letters to Canada and Mexico (1 ounce): 5-cent increase to 85 cents.
●Letters to other international destinations: 7-cent increase to $1.05.
The Postal Service says it has lost about $10 billion in the fiscal year that ended last month. It is pushing Congress to enact a series of reforms that would permit it to end Saturday mail deliveries, close post offices and mail processing facilities, and raise postage rates beyond the rate of inflation.
The price increases announced Tuesday, and formally filed with the Postal Regulatory Commission, are capped by law at 2.1 percent, the rate of inflation based on the consumer price index.