Stamps prices are on the rise, again — one of several changes the U.S. Postal Service is rolling out this month.
The cost of the first-class “forever” stamps has jumped from 63 to 66 cents. The latest price comes just months after forever stamps climbed from 60 to 63 cents in January, following a series of similar increases in recent years.
When announcing its intention to raise forever stamp prices to 66 cents earlier this year, the USPS cited rising “operating expenses fueled by inflation” and the impacts of “a previously defective pricing model” — noting that changes to mail service costs “are needed to provide the Postal Service with much needed revenue.”
Beyond forever stamps, a handful of other mail services will also see price increases starting Sunday. The cost of sending a first-class one-ounce metered letter, for example, will rise to 63 cents and domestic postcards will jump to 51 cents. International postcards and one-ounce letters are both set to move to $1.50.
The Postal Service will also launch a new package shipping service, USPS Ground Advantage, on Sunday to replace and combine previous plans. Ground Advantage pricing will reflect a 3.2% decline in retail prices and a 0.7% drop for commercial, the Postal Service says.
The Postal Regulatory Commission approved both the price changes and the implementation of Ground Advantage ahead of this month's changes. The price changes had also been approved by the Governors of the U.S. Postal Service as of the Postal Service's April notice.
Sunday marks the fifth jump in forever stamp prices seen since the start of 2019, when the postage cost 50 cents apiece. When adjusted for inflation, 50 cents in January 2019 equates to about 60 cents in the spring of 2023, according to the Bureau of Labor Statistics’ CPI inflation calculator.
For the first quarter of 2023, the Postal Service’s operating revenue was $21.5 billion — an increase of $206 million, even though volume declined by 1.7 billion pieces, or 4.8%, compared with the same period last year. All told, the Postal Service reported a net loss of $1 billion for the first quarter, but that was a $519 million improvement over the $1.5 billion net loss during the same period last year.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
