First class stamp price to go up 3-cents on January 26th

First class stamp price to go up 3-cents on January 26th

Credit: AP

A United States Postal Service employee displays Forever stamps at the main post office, Thursday, April 9, 2009 in New York. The price of first class stamps is going from 42 cents to 44 cents on May 11, but postal customers can use their Forever stamps without adding additional postage. (AP Photo/Kathy Willens)

Print
Email
|

by Associated Press

Associated Press

Posted on December 24, 2013 at 5:02 PM

Updated Tuesday, Dec 24 at 5:37 PM

WASHINGTON (AP)- Mailing a letter is about to get a little more expensive.

Postal regulators on Tuesday approved a price hike of 3 cents for a first-class stamp, bringing the charge to 49 cents a letter.

The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008.

The new price is effective Jan. 26 and will last no more than two years, allowing the Postal Service to recoup $2.8 billion in losses.

Regulators rejected a request to make the price hike permanent.

Bulk mail, periodicals and package service rates rise 6 percent.

The mail industry opposes the price increases. It says charities using mass mailings and bookstores competing with Amazon will suffer.

The Postal Service says it lost $5 billion in the last fiscal year.

Print
Email
|