'Forever' stamps more expensive

First class "forever" postage stamps went up in price from 63 cents to 66 cents effective Sunday, July 9.

It's the second hike this year as first class stamp prices rose from 60 cents to 63 cents as recently as Jan. 22.

U.S. Postal Service officials say the latest adjustment is needed to offset inflation.

The price increases of the last decade are noteworthy, having jumped from 45 cents to 66 cents since 2013, a nearly 47% hike.

Forever stamps were first introduced in 2006 as a way for consumers to avoid having to use 2-cent or 3-cent stamps to mailed postage every time rates rose.

Snail mail letters, cards, bill payments and other first-class items have been declining in volume in recent years as Americans increasingly turn to online options to make payments.

Do you want more business news? Check out B Magazine, and the B Magazine email newsletter. Go to www.semissourian.com/newsletters to find out more.