Brought to you by WBIW News and Network Indiana
Last updated on Tuesday, April 14, 2009
(UNDATED) - The price of a first class stamp goes up two cents on Monday, May 11. For an average household, the increase to $0.44 averages an extra $3.00 a year.
But people who frequently use the postal service are encouraged to stock up on forever stamps before the rate increase takes effect.
A forever stamp costs the same as a regular stamp, but it can be used at any time in the future regardless of how much prices go up. The postal service typically adjusts rates each May, but by law any increase must be in line with the consumer price index.
The postal service lost $2.8 billion last year and is expected to lose at least that much again this year.
Postmaster General John Potter has asked permission from Congress to eliminate Saturday delivery to help cut costs.
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