NEW YORK (CBSNewYork) – Just as cartoon character Homer Simpson once predicted, “the price of stamps will climb ever higher.”
The U.S. Postal Service has announced that “forever” stamps will be going up from 50 to 55 cents.READ MORE: Authorities Announce Major Gang Crackdown In Queens, With 28 Arrests
Stamps aren’t the only thing at the post office that will be pricier in 2019. Priority mail prices will also increase by nearly six percent.READ MORE: Officials Call On Residents To Get Vaccine In Far Rockaways And Edgemere, Zip Code With Lowest Vaccination Rate In NYC
The price hikes will go into effect on Jan 27.
Forever stamps can be used at any time when mailing letters, regardless of price hikes, meaning consumers have just two weeks to restock their supplies before the price jumps to the new rate.MORE NEWS: Officials: Long Beach Island Teen Nights Behind COVID Cluster Of At Least 11 Cases
The Postal Service is blaming continuing losses in revenue for the price hikes. The struggling agency says it lost nearly $4 billion in 2018, despite an increase in deliveries being made.