How much will it cost for Priority Mail, other shipping?
Starting Sunday, USPS Ground Advantage prices will increase by 5.4%, Priority Mail service prices will increase by 5.7%, and Priority Mail Express service prices will increase by 5.9%, according to a USPS news release.
The Postal Service is also seeking price adjustments for Special Services products including Post Office Box rental fees and some international mail services that include Registered Mail and International Mail insurance. The PRC will review the prices before they are scheduled to take effect.
Why are U.S. Postal Service shipping costs rising?
The increases are part of the Postal Services' 10-year Delivering for America plan, enacted in 2021 by Postmaster General Louis DeJoy. The plan was "absolutely necessary to put the Postal Service on the path to service excellence and financial stability," he told a U.S. House committee in May 2023, USA TODAY reported.
WASHINGTON — Stamp prices will be on the rise yet again this weekend.
Starting Sunday, the cost of the first-class “forever” stamps will jump from 66 to 68 cents. The latest price comes after forever stamps increased twice last year.
The prices for domestic postcard stamps will increase from 51 to 53 cents and international postcards go from $1.50 to $1.55.
When announcing its intention to raise forever stamp prices late last year, the USPS cited rising “operating expenses fueled by inflation” and the impacts of “a previously defective pricing model” — noting that changes to mail service costs “are needed to provide the Postal Service with much needed revenue.”
This was also the explanation given when announcing last year's stamp increase.
The postal service stated that its prices remain among the most affordable in the world.
Sunday marks the sixth jump in forever stamp prices seen since the start of 2019, when the postage cost 50 cents apiece.
Almost 800 medications—including Ozempic and Mounjaro—had a median list price increase of 4.5% this month, according to a Wall Street Journal report, meaning copays may increase for consumers.
Key Facts
Drugmakers increased list prices for 775 brand name drugs during the month of January, including weight loss and diabetes drugs Ozempic and Mounjaro, according to a report by the Wall Street Journal using data from 46brooklyn Research.
The average price hike of the drugs was 4.5%, the report said—which is more than the 3.4% inflation rate recorded 2023—though some manufacturers increased prices by as much as 10% or more.
Ozempic manufacturer Novo Nordisk increased the price of the drug by 3.5% to almost $970, according to the report; the company told Forbes it increases the list price of some of its drugs “in response to changes in the healthcare system, market conditions and the impact of inflation.”
Eli Lilly, the manufacturer of Mounjaro, reportedly increased the price of the drug to $1,069.08, a 4.5% increase, and it told Forbes it takes into account the “medicines’ efficacy and safety profile,” as well as overall value when raising prices.
Gilead Sciences reportedly increased the price of its HIV drug Biktarvy by 4.9% to around $3,980, Vertex Pharmaceuticals upped the price of its cystic fibrosis treatment Trifakta by almost 6% to around $25,550 and Dupixent, made by Sanofi and Regeneron, rose by 6% to around $3,800, according to the report.
There were also reportedly an “unprecedented” amount of drug price decreases—mainly for insulin and inhalers— this year, according to 46brooklyn Research, including a 70% cut in GlaxoSmithKline’s inhaler Advair Diskus, and insulin price decreases between 65% and 80% from Eli Lilly, Novo Nordisk and Sanofi—the largest manufacturers of insulin.
What This Means For Consumers
The retail price of drugs is determined by discount negotiations, or rebates, made between pharmacies and their middlemen and insurers, according to the Congressional Budget Office. Because of these negotiations, drugmakers don’t get paid the full list price of medications. Consumers may only pay a copay for drugs depending on their health insurance plan, and even those with high deductibles don’t typically pay the list price. However, because the amount consumers pay is related to the list price, an increase in list prices typically means an increase in copay. Companies predict the price increase won’t limit consumers’ access to their drugs. “These medicines are broadly available through insurance coverage in the U.S., more than 99% of eligible, covered [cystic fibrosis] patients have access,” Vertex Pharmaceuticals told Forbes.
What To Watch For
Drugmakers typically announce drug price increases within the first few weeks of the year. Several companies like Johnson & Johnson have not posted any increases as of yet, according to 46brooklyn Research’s data.
Key Background
The topic of drug prices has been a salient concern among the Biden administration. The administration announced in December 2023 it would penalize drugmakers that raised the prices of drugs faster than the rate of inflation and pay Medicare a rebate as a part of the Inflation Reduction Act. Under the law, Medicare has the power to negotiate drug prices for some costly Part B and Part D drugs. The first 10 drug prices Medicare is negotiating include insulin, stroke and diabetes drugs, and a final decision on prices is expected to be announced by the fall, though it won’t go into effect until 2026. The act also tackled insulin prices—which are seven to 10 times more expensive in the U.S. compared to other countries—by capping the cost at $35 for Medicare beneficiaries. Health insurance savings of $800 a year were also promised to 15 million Americans, and a yearly cap of $2,000 starting in 2025 for out-of-pocket Medicare expenses are also a part of the act.
There are multiple factors that cause movement in the price of gold. Here's what you need to know. Bloomberg Creative Photos
Have you considered investing in gold? If so, you may know that investing in the precious metal is very different from investing in publicly traded companies. After all, gold doesn't provide dividends, it doesn't have a managing body and it will never be the target of a corporate acquisition. On the other hand, it does have significant value.
Not only does gold have value, but that value changes with time — which is why investors often look to the commodity as a way to grow or stabilize their portfolios.
But where does that value come from? If earnings reports and acquisition chatter don't cause movement in the price of gold, what does?
Before you make any investment, it's a good idea to do your research and get to know the asset you're buying. So, if you're thinking about investing in gold, it's a good idea to learn about what causes changes in the commodity's value.
"Gold sure is pretty to look at and people have been mesmerized forever by the allure of gold and what determines its price," says Steve Azoury, ChFC and owner of Azoury Financial in Troy, Michigan. "It's believed that three factors usually drive the movement in the price of gold."
Those factors include:
Inflation
The most common driver for gold's price is the expectation of inflation, says Azoury. Inflation "increases investors' interest to purchase, and thus the supply and demand factor takes over, raising the prices." But why does inflation drive the price of gold?
When high inflation sets in, the United States dollar loses value. Over time, seemingly small changes have a significant impact on your ability to trade a dollar for goods and services. Just think about the difference between prices when you were a kid and prices today. Today's dollar simply doesn't buy as much.
Gold has a close relationship with inflation in that when prices rise, the value of gold tends to rise as well. As such, investors often look to gold as a way to protect the value of their portfolios during inflationary periods.
"The second factor impacting the price of gold is expected long-term real interest rates," says Azoury. "A rise in interest rates usually drives down the price of gold. A decrease in the interest rate will do the opposite, increasing the price of gold."
So why do long-term interest rates cause movement in the price of gold? It's a matter of competition.
Gold doesn't offer a coupon rate, dividend or any other cash return. The return on the commodity is solely determined by its growth in value. Long-term interest-based investments, like treasuries, have a value that's tied to their percentage-based returns.
Both of these assets are considered safe-haven investments. As such, when long-term interest rates are high, treasuries are more attractive, which can lead to declines in the demand for, and therefore the price of, gold.
On the other hand, as long-term interest rates fall, bonds and treasuries tend to lose their momentum — leading to higher demand for gold.
Market and economic conditions
"Finally, the third factor that drives the movement in the price of gold is uncertainty in the market," says Azoury. "Gold prices seem to protect against bad economic times, which some refer to as the pessimism about the future conditions factor. People seem to flock toward gold when the economy is in bad shape."
Ultimately, gold is a safe-haven asset. So, when the market and economic conditions are concerning and investors are seeking safety, they tend to flock to gold — causing its price to climb.
How to add gold to your investment portfolio
As a safe-haven commodity, gold has a place in just about any investment portfolio. So, how can you add it to yours? Here are a few options:
Gold ETFs: Gold exchange-traded funds (ETFs) pool money from a large group of investors and use that money to purchase physical gold. Shareholders share in the gains that gold produces based on the number of shares they own.
Gold mining ETFs: Gold mining ETFs pool money from a large group of investors and typically use that money to invest in a diversified portfolio of mining stocks. Purchasing shares in these funds usually gives you exposure to gold as well as the potential gains associated with the companies that produce it.
The bottom line
Several factors play a role in the price of gold, but it all boils down to one thing: the law of supply and demand. When economic or market conditions lead to an increase in gold's demand, you can expect to see gains in the price of the commodity. On the other hand, when gold's demand decreases, the price of the commodity typically follows.
Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he's not working, he enjoys time with his wife, two kids, three dogs and 10 ducks.
Steve Wynn's taking another shot at unloading his massive Beverly Hills estate -- and in this economy ... he's had to slash the price by quite a bit compared to 3 years ago.
The casino mogul has put his mega-mansion back on the market after first listing in 2021 for a whopping $125 million. Now, he's willing to accept much less -- listing the pad for a cool $75 mil ... marking a huge $50 million discount.
Mind you, the dip here was gradual ... SW and co. first dropped the price 6 months after first throwing up, asking for $115M, the dropped it further in March 2022 at $100 mil ... and finally, cut it down some more in January 2023, asking for just $85 mil. Now, it's just this.
It goes without saying ... the housing market just isn't as hot as it was during the pandemic -- and this figure seems to reflect that. With that said, that dough will fetch you a palace.
The property features a humongous main house that has 11 bedrooms, 16 baths and over 27,000 square feet of living space that sits atop 3 acres total. Like we said ... it's big!!!
Of course, it's got all the bells and whistles of luxury too ... including a wine cellar, a pool house, an outdoor kitchen, a championship tennis court with a pavilion, a massage room, a full gym, a state-of-the-art screening room -- just to list a few perks.
If you've got an extra $75 mil lying around, you can live like a king ... or a real estate tycoon, more like.
Kurt Rappaport of Westside Estate Agency Inc. holds the listing.
Actor Alec Baldwin’s luxurious Hamptons estate, located at 335 Town Lane in Amagansett, has made a grand re-entrance onto the sales market, and guess who’s stealing the spotlight?
None other than Alec Baldwin himself.
The lavish property, as reported by Behind the Hedges, is now listed for $19 million, marking a $10 million drop from its initial listing price back in September 2022.
This comes after a brief hiatus from the market, as The Post previously reported, with the estate being temporarily withdrawn, only to return with the massive price cut.
The latest listing is accompanied by a 2-minute video showcasing the property, with Baldwin taking center stage.
In the video, he can be seen strolling on the nearby beach and exploring the expansive 10-acre grounds.
“You just can’t get this out here, you can’t buy big pieces of land, especially in Amagansett,” Baldwin, 65, enthusiastically declares in the promotional video.
The Amityville native acquired the estate in 1995 for a mere $1.7 million, and over the years it has undergone substantial expansions.
With two additions in the last three decades, the main home now boasts an impressive 10,000 square feet.
Moreover, the property has approval for the construction of a separate 10,000-square-foot home, in addition to potential expansions for the existing four-bedroom, seven-bathroom residence.
The home is in Amagansett. Saunders & AssociatesThe property initially listed for $29 million last year. Saunders & AssociatesThe rear of the home. Saunders & AssociatesA view of the home’s layout. Saunders & Associates
Baldwin initially set the bar high with a listing price of $29 million. However, realizing the evolving market dynamics, he made strategic price adjustments, first dropping it to $25 million at the beginning of 2023, and later to $22.5 million.
The listing remains under the guidance of Saunders & Associates’ Scott Bradley and Michael Cinque.
While the estate takes center stage, Baldwin has been a busy player in New York real estate.
A kitchen opens to a plush seating area. Saunders & AssociatesThe pool and spa. Saunders & Associates
In 2022, Baldwin and his wife, Hilaria, sold their upstate lake house for $530,000.
