The price of stamps could increase every 6 months beginning in July 2022

If you haven’t purchased some Forever stamps in a while, you might want to stock up.

The U.S. Postal Service is looking to increase the price of stamps by 2 cents every six months beginning July 10, 2022. The USPS filed a notice with the Postal Regulatory Commission proposing the change, but it has not yet been reviewed. The increase, if approved, would take the current price of stamps from 58 cents to 60 cents this summer.

The increase would raise First-Class Mail prices approximately 6.5%, which USPS points out is lower than the annual inflation rate of 7.9%, which is the highest single-year jump since 1982.

However, the cost of stamps also increased last year, in August, from 55 cents to 58 cents. If the latest increase is approved, that will mark a 9% increase in less than a year.

If the increase takes effect, the single-piece letter additional ounce price would increase to 24 cents, the metered mail 1-ounce price would increase to 57 cents and the price of a postcard stamp would increase to 44 cents. If you often send mail to other countries, you’ll see a one-ounce letter mailed out of the U.S.  increased to $1.40.

The Postal Service is also seeking price adjustments for special services products like Certified Mail, Post Office Box rental fees and Money Order fees, but they have not revealed the exact prices they’re looking at.

The U.S.P.S. announced the proposed increase in January, saying that in each  subsequent year, they plan to implement price changes in January and July. They will be filing the necessary paperwork for review each preceding October and April, which means the next increase could be January 2023, taking the cost of stamps to 62 cents, then 64 cents in July 2023.

Here’s a breakdown of the proposed Mailing Services price changes:

This story originally appeared on Don't Waste Your Money. Checkout Don't Waste Your Money for product reviews and other great ideas to save and make money.