Stamps are getting more expensive, again

Transcript:

Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet as of late.

Investors took a victory lap on Thursday - pushing the Dow and the S&P five hundred to fresh record closing highs. New data show the economy continues to grow, while inflation cools, and the labor market adjusts to a slower %. Along those lines, there are layoffs at Walt Disney The corporate let go of roughly 300 employees in every other round of job cuts.

On Friday, Wall Street will get big news on the inflation front when the closely watched Personal Consumption Expenditures index is released. It be the Fed’s most well-liked measure of inflation.

Related: What to do within the event you're behind on retirement saving

Turning now to other headlines - the associated fee of a stamp is determined to move up….many times.

The Post Place of job is planning to hike the associated fee of a prime-class stamp 5 times between now and 2027. The first hike will happen in July 2025, which implies that you possibly can in all probability give inflation more time to decline, the Post Place of job said. After that, there can be two more increases in 2026, followed by every other two in 2027.

In a regulatory filing, the Post Place of job said it should raise rates “given our legal obligation to be financially self-sufficient.”

Few things have experienced the level of inflation seen by a postage stamp. In 1974 it best cost 10 cents, by 2002 it jumped to 34 cents, and now it stands at seventy three cents. That’s an eye-popping 630 %rise over a 50 year period.

That’ll do it for your Day to day Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.

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