Cost of postage stamp to raise in May

2009-02-11 21:11:18 (GMT) (Caymanmama.com - Business News)

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Trying to balance the rising cost of every day operations, the U.S. Postal Service announced Tuesday that the cost of a postage stamp will raise another 2-cents

Springfield, Massachusetts (CaymanMama.com) — Trying to balance the rising cost of every day operations, the U.S. Postal Service announced Tuesday that the cost of a postage stamp will raise another 2-cents beginning in May 11 bringing the cost of a stamp to 44 cents.

The May date allows the public to stock up on Forever stamps, which will continue to sell for 42-cents prior to the increase. The Forever stamps will still be valid in the case of future rate increases.

“The Postal Service is not immune to rising costs which are affecting homes and businesses across America today,” said Postmaster General John Potter. “Even with the increases, the Postal Service continues to offer some of the lowest postage prices in the world.”

Every year in May, postage rates go up, with the new rates announced in February. The change is in correlation of the rate of inflation in the year prior.

According to the Associated Press, “The agency could have cited extraordinary circumstances and asked the independent Postal Regulatory Commission for larger increases, but officials felt that would only result in a greater decline in mail volume.”

As per the report, the following additional changes will take place May 11:

• Postcard stamp raises 1-cent to 28 cents.

• The first ounce of a large envelope raises 5 cents to 88 cents.

• The first ounce of a parcel goes up 5 cents to $1.22.

• New international postcard and letter prices are, for one ounce, 75 cents to Canada; 79 cents to Mexico; and 98 cents elsewhere.



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