Stamp prices are going up... again.
Your office supply art just got much more expensive. In another attempt to stave off bankruptcy and actually lose less money than expected, the United States Postal Service is passing its expenses on to you, the consumer. That’s right, the price to mail a letter is going up yet again. Starting on January 22, postcard postage increases 3 cents to 32 cents, while the cost of a first class stamp (or Forever stamp) increases by a penny to 45 cents; letters to America’s hat and shoes–aka Canada and Mexico–will go up to 85 cents, a 5-cent increase. Other international destinations will rise by 7 cents, to $1.05 a letter.
“The overall average price increase is small and is needed to help address our current financial crisis,” said United States Postmaster General Patrick Donahoe. “We continue to take actions within our control to increase revenue in other ways and to aggressively cut costs.”
The USPS lost a staggering $8.5 billion dollars in 2010, compared to a $3.5 billion dollar loss in 2009. USPS mail volume has dropped 20% in the last four years, resulting in $20 billion total in losses. The USPS is seeking to lay off 120,000 workers, but is handcuffed by federal regulations regarding collective bargaining. The USPS also wants to change its retirement and health packages to something less expensive.
No word on how much it will cost to mail a puppy using new postal rates.
Tags: USPS, United States Postal Service, USPS raises rates, postage stamp price going up, postal service raises rates, first class stamps now cost 45 cents, postal rates going up on January 22, Postmaster General Patrick Donahoe, post office, post office to raise all mail rates
