The price of stamps for first class mail is going up to 44 cents on Monday. The current price is 42 cents. If you currently have the Forever stamps you’re okay. This is the third year in a row that prices have gone up. And the U.S. Postal Service is still crying broke.
WASHINGTON – Peel it and weep: It’ll cost an extra 2 cents to mail a letter starting Monday.
The price of a first-class stamp will climb to 44 cents, though people who planned ahead and stocked up on Forever stamps will still be paying the lower rate.
It’s the third year in a row that rates have gone up in May under a new system that allows annual increases as long as they don’t exceed the rate of inflation for the year before.
While the increase will bring in added income, the post office continues to struggle financially as more and more lucrative first-class mail is diverted to the Internet, and the recession discourages businesses from sending their usual volume of advertising.
The Postal Service, which does not get a taxpayer subsidy for its operations, lost $2.8 billion last year and is $2.3 billion in the hole just halfway through this year.
The Postmaster General is asking for permission to reduce mail delivery from six days a week to five days a week. Sounds good to me. Most of the mail I receive on Saturdays is usually junk mail and that junk mail piles up very quickly. The Postal Service is already offering early retirement, freezing salaries for higher level employees and realigning carrier routes. I’ve noticed in the past few months in my neck of the woods we don’t receive our mail until after 5:00pm. A few times the mail didn’t come until after 6:00pm. It wasn’t always like that. Makes you wonder if the Postal Service we see today will exist in the next ten to fifteen years.