U.S. Postal Service implemented a 7.4% price hike including raising Forever stamps to 78 cents, as the organization works to overcome a projected $160 billion in losses.

WASHINGTON — If you need to buy a stamp for sending a letter, the price just went up by about a nickel. The U.S. Postal Service has enacted a rate hike on the cost of a first-class stamp, from 73 cents to 78 cents.