Feb 11, 2008 2:21 pm US/Central
Postal Service To Up Price Of Stamps To 42 Cents
WASHINGTON (AP) ―
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The cost of a first-class stamp will rise to 42 cents starting May 12, the U.S. Postal Service said Monday.
AP
The cost of a first-class stamp will rise to 42 cents starting May 12, the U.S. Postal Service said Monday.
The price of the Forever stamp will go up at the same time, meaning
those stamps can still be purchased for 41 cents but will remain good
for first-class postage after the rate increase takes effect.
The post office has sold 5 billion Forever stamps since they were
introduced last April and plans to have an additional 5 billion in
stock to meet the expected demand before the May price change, the
agency said.
The charge for other services, such as advertising mail,
periodicals, packages special services will also change. Changes in the
price for Priority Mail and Express Mail will be announced later, the
agency said.
Postage rates last went up in May, 2007, with a first-class stamping jumping 2 cents to the current 41-cent rate.
In the past raising postage rates was a long, complex process
involving hearings before the independent Postal Regulatory Commission,
a process that could take nearly a year.
However, under the new law regulating the post office that took
effect in late 2006, the agency is allowed to increase rates with
45-days notice as long as changes are within the rate of inflation for
the previous 12 months. The Postal Regulatory Commission calculated
that rate at 2.9 percent through January, limiting the first-class rate
to an increase of just over a penny.
Under the new law, postal prices will be adjusted annually each
May, the Postal Service said. Officials said they plan to give 90 days
notice of future changes, twice what is required by law.
While the charge for the first ounce of a first-class letter rises
to 42 cents, the price of each added ounce will remain 17 cents, so a
two-ounce letter will go up a penny to 59 cents.
The cost to mail a post card will also go up a penny, to 27 cents
Other increases set for May 12:
- Large envelope, 2 ounces, $1, up 3 cents.
- Money Orders up to $500, $1.05, unchanged.
- Certified mail, $2.70, up 5 cents.
- First-class international letter to Canada or Mexico, 72 cents, up 3 cents.
- First-class international letter to other countries, 94 cents, up 4 cents.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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