USPS looks to raise price of "forever" stamp to 78 cents, as part of rate increase proposal

The U.S. Postal Service is seeking a rate increase this summer that includes hiking the cost of a first-class stamp from 73 cents to 78 cents.

The request was made Wednesday to the Postal Regulatory Commission, which must OK the proposal. If approved, the 5-cent increase for a "forever" stamp and similar increases for postcards, metered letters and international mail would take effect July 13.

The proposed changes would raise mailing services product prices approximately 7.4%.