The days of 46¢ stamps may soon be over, according to a press release issued by the U.S. Postal Service last month.
If approved by the Postal Regulatory Commission, the increase will take effect in late January of 2014, and will apply to postage for all first-class and standard mailings.
Package mailings, periodicals and extra services will also be affected.
According to the press release, the price of a stamp for a single-piece letter will go from 46¢ to 49¢. Other price changes include a 1¢ increase for postcards, and a 1¢ increase for letters that exceed 1 oz.
The proposal is necessary due to “extreme financial challenges,” said Mickey Barnett, the USPS Board of Governors Chairman.
Last year alone, the Postal Service saw a net loss of roughly $16 billion, and expects another $6 billion during the current fiscal year.
The postage increase is expected to help generate $2 billion in revenue for the Postal Service, unless “timely enactment of laws” occurred to help ease the financial burdens, according to Barnett.
Although an increase in postage is possible, customers who use Page Per Page for their mailings receive a discount on postage. For example, today, a 1 oz. first-class letter will cost you 46¢. Using Page Per Page, that cost drops to 42¢.
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U.S. Postal Service Announces New Prices for 2014
Originally posted: October 9, 2013