The United States Postal Service announced a stamp price increase from 44 cents to 45 cents last fall, and it took effect Sunday.
It’s the first increase in the price of stamps since 2009. The USPS is losing billions of dollars annually, closing offices and says it must increase prices to keep up with new trends, including less first-class mail.
Other USPS price increases also took place on Sunday, including: the cost of mailing a postcard increased 3 cents to 32 cents, the cost of mailing letters to Canada and Mexico rose 5 cents to 85 cents, and the cost of mailing a letter to other countries rose 7 cents to $1.05.
Price changes have also been inacted for other mailing services, including Standard Mail, Periodicals, Package Services and Extra Services, the USPS said.
“The overall average price increase is small and is needed to help address our current financial crisis,” said Postmaster General Patrick Donahoe in a statement when the price hike was announced. “We continue to take actions within our control to increase revenue in other ways and to aggressively cut costs. To return to sound financial footing we urgently need enactment of comprehensive, long-term legislation to provide the Postal Service with a more flexible business model.”
The Postal Service does not receive tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.
