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Postage stamp prices: Increase begins

USPS
USPSWikipedia

The postage stamp prices’ increase announced last month by the United States Postal Service (USPS) goes into effect on Sunday. After midnight Saturday, people cannot mail a 2 ounce letter at the 46 cent price anymore. The price goes up to 49 cents. The postage stamp price increase of three cents is the largest increase in some time, according to a Fox News report on Saturday.

Additionally, mailing a postcard increases to 34 cents – up one cent. Forever stamps that persons have previously purchased are still good for use on mailings at the price they were purchased.

Again, the price hike is effective as of Jan. 26, 2014. The measure has been instituted to assist the United States Postal Service recover from the financial losses incurred following the nation’s economic downturn which occurred some five years ago.

Reportedly, the heightened rate will last no more than two years. In that period of time, the Postal Service expects to recoup $2.8 billion in losses. The increase to 49 cents would have been a permanent increase if it weren’t for the independent Postal Regulator Commission’s rejection of such a request by a vote of 2-to-1.

Package services, bulk mailings, and periodicals rates rise 6 percent.