Cost of a Stamp Increasing to 49 Cents in January
stamps could previously be purchased for 46 cents
Mailing a letter will soon cost you more. Postal regulators have approved a temporary price hike, raising the cost of a first-class stamp from 46 cents to 49 cents. Bulk mail, periodicals and package service rates will rise by 6 percent.
The higher rates will last no more than two years, allowing the Postal Service to recoup $2.8 billion in losses. The Postal Regulatory Commission rejected a request to make the price hike permanent.
Many consumers won't feel the effects the price increase right away. Forever stamps, which are good for first-class postage regardless of any rate increase, can be purchased at the current rate of 46 cents until the new rate becomes effective on January 26, 2014.
postcard stamps too
The new price of a postcard stamp, raised to 34 cents in November of 2013, also takes effect in January.
The Postal Service reported a loss of $5 billion in the last fiscal year and has been trying to convince Congress to pass legislation to help with its financial woes, including an end to Saturday mail delivery and reduced payments on retiree health benefits.