US Postal Service seeking to hike cost of first-class stamp to 73 cents

The U.S. Postal Service is planning a rate increase that would raise the price of a first-class stamp from 68 cents to 73 cents. The filing on the planned increase was made Tuesday with the Postal Regulatory Commission. The commission must approve the proposed increase, which the Postal Service says is necessary to achieve financial stability. If approved, the 5-cent increase for a “forever” stamp and similar increases for postcards, metered letters and international mail would take effect July 14. U.S. Postmaster General Louis DeJoy had previously warned consumers to get used to “uncomfortable” rate hikes, saying the Postal Service seeks to become self-sufficient.