You will probably have to come up with an additional nickel to send your letters in the mail soon.

The U.S. Postal Service announced Tuesday that if the Postal Regulatory Commission approves the proposed adjustments, the price of a First-Class Mail Forever stamp will increase five cents from 68 cents to 73 cents on July 14. The additional-ounce price for single-piece letters will increase from 24 to 28 cents. The governors of the Postal Service approved the proposed adjustments, which would result in a 7.8 percent increase in mailing rates.

The USPS reported in November a $6.5 billion net loss for their fiscal year ending in September after experiencing the lowest volume of first-class mail since 1968.  Over the past four years, stamp prices have increased 36 percent since 2019, when they were 50 cents.