The U.S. Postal Service made its price hike official Friday, raising the price of stamps from 68 cents to 73 cents.
Five years ago, stamps cost 50 cents, making this latest price hike a 36% increase. Stamp sales help to fund the Postal Service, as it does not receive tax dollars toward its operating expenses. The hike will result in an anticipated $44 billion in revenue by 2031.
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