Once again, the cost of a first-class postage stamp has risen — this time by 3 cents to 49 cents.
The new price, approved in December, took effect on Sunday, The Associated Press reported. Forever stamps are still in use, however; those who purchased these stamps won’t feel any price hike until their stash runs dry and they have to buy more.
The price of stamps last rose just a year ago from 45 cents to 46 cents.
Meanwhile, the U.S. Postal Service continues its battle with budgeting. The federal agency’s lost $5 billion in the past year, and rather than cut deeply into its pension plan for workers, it wants Congress to cut its Saturday delivery service or reduce health benefit payments for retirees, AP said.