The cost of stamps is set to increase by two cents on Monday.
Wired PR News – The price of mailing a letter is set to increase on Monday. As reported by the Associated Press (AP), the cost of postal stamps will go up 2 cents, from 42 to 44 cents.
As noted by the AP, the increase will mark the third consecutive year that these rates have risen in accordance with policies that allow for yearly increases providing they meet certain guidelines. The Postal Service reportedly suffered $2.8 billion in losses last year and continues to struggle due to declining sales. Other increases will include the prices on mailing post cards, envelopes, parcels, and other items.
As further noted in the report, despite the increases the Post Office still faces the possibility of running out of funds by September, when the budget year comes to a close.
Photo Credit: U.S. Air Force photo/Tech. Sgt. Shane A. Cuomo
