Price of stamps set to increase
Fri, 10 Jan 2014 23:23:30 GMT —
Mailing a letter will get a little more expensive in the coming weeks.
The price of stamps will increase three cents on January 26th, bringing the cost to $0.49 per stamp.
The increase is an effort to help the postal service recover from the severe mail decrease as a result of the 2008 economic downturn.
The increased price of stamps is expected to last no longer than two years, which will allow the postal service to help regain its $2.8 billion of losses.
The independent postal regulatory commission rejected a request to make the price hike permanent. 'Forever Stamps' purchased before the increase will still be valid for all one-ounce letters.
"The post office is self sustaining. We don't get tax dollars to operate, so we rely on the sales of postage stamps, shipping packages. That's how we pay for our costs," said Kirksville Postmaster Greg Stiner.
Once again, the price of stamps is expected to increase to $0.49 on January 26th.