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article imageUS Postage Stamps to cost a penny more

By Chris V. Thangham     Feb 11, 2008 in Business
Beginning May 12, 2008, the cost of a U.S. first class stamp will rise to 42 cents. The price of Forever stamp will also increase by one cent, but existing Forever stamps can be used without paying more.
The U.S. Postal Service announced its rate increase today: Beginning May 12 the cost of mailing a letter (1 oz weight) will increase by a cent to 42 cents. The previous increase was in May 2007, when it increased by two cents.
The price of the Forever stamp will also increase by one cent. But previously purchased stamps will still be usable without having to pay more. The U.S. Postal Service (USPS) has sold more than five billion Forever stamps since its introduction last April. The USPS is planning to sell five billion more between now and May.
Before, the USPS had to go through an arduous process to file an increase in postage rates, but due to the changes in the law the USPS can increase rates depending upon the rate of inflation. The Postal Regulatory Commission calculated the increase to just over a penny, so the USPS decided to increase the postage rate by a cent.
The USPS will adjust the rates annually each May. The law requires the USPS to give a 90 day notice to announce the rate increase.
The charge for other services, such as advertising mail, periodicals, packages and special services will also change. Changes in the prices for Priority Mail and Express Mail will be announced later, the agency said.
For every additional ounce of weight, the rate increases by 17 cents, same as before.
The rates for Priority and Express Mail will also increase, but the USPS will announce them later.
Other increases will be as follows:
• The cost to mail a post card will also go up a penny, to 27 cents
• 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.
What do you think about this postage rate increase?
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