US Postal first class rates go up today, Monday May 11, from 42 cents to 44 cents. Although no additional postage will be needed for those using the Forever Stamp.
This is the third year in a row that postage prices have risen. A new program implemented allows the US Postal service to raise rates each year as long as they don’t exceed the rate of inflation for the year before.
The Postal service is trying to recoup from a $2.8 billion loss last year and a $2.3 billion loss so far this year. More people, including businesses, have turned to the Internet as a means to save money.
Postmaster General John Potter has asked Congress for permission to reduce mail delivery to five days a week. Other cost cuts have been implemented such as offering early retirement, realigning carrier routes and a freeze in salaries for officer and executive salaries.
Other changes taking effect Monday:
- The postcard stamp increases by a penny to 28 cents.
- The first ounce of a large envelope increases 5 cents to 88 cents.
- The first ounce of a parcel increases 5 cents to $1.22.
- New international postcard and letter prices are, for one ounce, 75 cents to Canada; 79 cents to Mexico; and 98 cents elsewhere.
Most Postal Service shipping services prices were adjusted in January and will not change in May.
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