The Postal Service contends, as it did last year before a similar increase, that the price hike is needed to achieve financial stability.

First-class stamp prices could increase by 5 cents in July under a new United States Postal Service proposal announced Wednesday. Why it matters: The proposed rate is the first of five planned price hikes planned through 2027.

The proposed price hike, submitted to the Postal Regulatory Commission (PRC) for approval, would raise the price of a "forever" sta