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The price of 'Forever' stamps just went up

By Shelby Copeland, CNN

(CNN) -- It just got more expensive to send mail.

The price of a "Forever" stamp has gone up a nickel -- to 55 cents.

While not exorbitant, the price increase is part of the biggest price jump on stamps in the United States Postal Service history. And it's a result of the pressure the agency is facing to dig itself out of a deep financial hole.

In November, the agency reported a loss of $3.9 billion for fiscal year 2018, despite seeing growth in its shipping and packaging business.

Stamps with the "Forever" designation retain their value no matter how prices change in the future.

In addition to the new price of "Forever" stamps, the shipping prices and prices for flat rate boxes also went up. The cost of a small flat rate box is now $7.90 -- from $7.20.

The USPS' board of governors say these rates will keep the Postal Service competitive.

The-CNN-Wire™ & © 2019 Cable News Network, Inc., a Time Warner Company. All rights reserved.

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