Postal Service gets approval for a temporary increase in stamp prices

By Lisa Rein

The price of a first-class letter and most other mail will rise by 3 cents on Jan. 26, the largest rate hike in 11 years, the commission that oversees the U.S. Postal Service announced Tuesday.

The stamp-price increase to 49 cents will be in effect for two years, giving the financially struggling agency a temporary infusion of extra revenue intended to help it recoup losses suffered during the economic downturn between 2008 and 2011.

The Postal Regulatory Commission rejected the Postal Service’s petition for a permanent increase, saying that the $2.8 billion infusion should compensate only for the recession, not offset losses caused by Americans’ growing use of electronic communications and commercial delivery services.

Read full article here from The Washington Post