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Postal Rates Set to Increase Monday
For the third year in a row the cost of a stamp will be going up as Monday marks a two-cent increase to first-class stamps, pushing the cost to 44-cents.
The rise in cost is designed to offset some of the losses the Postal Service has incurred over the past few years as more people have turned to the Internet and companies have scaled back their advertising mailers. The Postal Service has already amassed $2.3 billion in losses just halfway through this year, the budget year ends Sept. 30.
Several cost-cutting measures have been put in place as well as proposed including the request to scale back delivery to five days.
In addition to the two-cents increase in first-class postage stamps a postcard stamp will increase a penny to 28-cents, the first ounce of a large envelope jumps 5-cents to 88-cents, the first ounce of a parcel increases 5-cents to $1.22 and international postcard and letter prices for one ounce are 75-cents to Canada; 79-cents to Mexico; and 98-cents anywhere else.
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