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.
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