Price of stamps to go up 3 cents

The price of a single-letter stamp will increase to $0.49 beginning January 26.
Posted By Gabrielle Levy   |   Dec. 26, 2013 at 12:56 PM   |   0 comments

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Dec. 26 (UPI) -- The price of stamps will rise again this January, ticking up three cents beginning January 26.

The Postal Regulatory Commission approved a one-cent increase last month to keep pace with inflation, but said it tacked on an additional two cents -- bringing the total to $0.49 -- to help make up for losses during the recession.

The Postal Service was ordered "develop a plan to phase out the rates once they have produced the revenue justified by their request," the PRC said.

The agency reported $5 billion in losses in the 2013 fiscal year, after losing $16 billion in 2012.

It is also considering reducing mail delivery and increasing package delivery, which brings in more revenue.

[CNN Money]

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