In an attempt to help the Postal Service recover from the severe mail decreases from the 2008 economic downturn, regulators have approved a temporary price hike of 3 cents for a first-class stamp. This price hike will bring the total charge of a stamp to 49 cents a letter.
The new rate is effective Jan. 26 and will last no more than two years. This allows the Postal service to hopefully recoup $2.8 billion in losses. Postal Regulatory commission rejected a request by a 2-1 vote on Tuesday to make the price hike permanent. However, over the next 24 months inflation may make it so.