USPS Lowers Price of Stamps For the First Time in 100 Years
April 8, 2016 Leave a comment
Yes, you read that correctly. The price of stamps is going down.
Beginning April 10th, the price of a stamp for a 1-ounce letter will cost 47 cents, down from 49 cents. International letters will go down by 5 cents to $1.15, and postcards will be 1 cent cheaper, at 34 cents.
Back in January 2014, regulators of the U.S. Postal Service granted a temporary rate increase to help offset the lingering effects of the 2008 and 2009 recession. A 4.6 billion dollar cap was placed on the amount the Postal Service could recoup and it is estimated that it will be met by this Sunday.
While normally a price cut in anything is good news, it is not good news for those holders of Forever stamps for these stamps are now worth less than what they were purchased for.
The Postal Service is pleading with Congress and regulators to extend the surcharge claiming that it will result in an annual revenue loss of 2 billion dollars.