If you have any mail that needs to be sent out next week or after, buy some forever stamps this weekend because the price of stamps will be going up starting Sunday, January 26, 2014.
Last month regulators approved a temporary price increase of 3 cents for a first-class stamp, bringing the charge to 49 cents a letter in an effort to help the United States Postal Service recover from mail decreases brought on after the 2008 economic downturn.
The cost of other mailing services will also be going up.
New single-piece First-Class Mail pricing, effective Jan. 26, 2014 include:
- Letters (1 oz.) — 3-cent increase to 49 cents
- Letters additional ounces — 1-cent increase to 21 cents
- Letters to all international destinations (1 oz.) — $1.15
- Postcards — 1-cent increase to 34 cents
In an announcement on its website the Post Office attributed the difference to its “precarious financial condition.” The price increase is necessary in order to ensure that the Postal Service will be able to maintain and continue the development of postal services of the type and quality which America needs.
“Of the options currently available to the Postal Service to align costs and revenues, increasing postage prices is a last resort that reflects extreme financial challenges,” said Barnett in the letter. “However, if these financial challenges were alleviated by the timely enactment of laws that close a $20 billion budget gap, the Postal Service would reconsider its pricing strategy. We are encouraged by the recent introduction of comprehensive postal reform legislation in Congress, and despite an uncertain legislative process, we are hopeful that legislation can be enacted this year.”
Meanwhile, business customers of the US Postal Service are appealing the decision by regulators to allow an increase in postal rates.
Mary G Berner, president and chief executive of the Association of Magazine Media, one of the groups behind the appeal, said the evidence used to secure the rate increase was “fundamentally flawed”.
“Increased rates will only result in more lost volume for the Postal Service,” she said. “Businesses will suffer and good people will lose their jobs. We hope the legal system will see through the Postal Service’s fuzzy math.”
Peggy Hudson, the Direct Marketing Association’s senior vice president of government affairs, said unless the court overturns the regulator’s decision, the only protection mailers have against the Postal Service’s monopoly would be gutted.
“The 6.0% postage increase – three times the rate of inflation – will not help the Postal Service shore up its financial base,” she warned. “It will simply drive mail from the system, which harms the financial viability of both the Postal Service and its business customers. It is a lose-lose proposition.”
Price of stamps set to increase
Mailing a letter will get a little more expensive in 2014.