US Postal Service Announces Increasing Stamp Prices

Washington, DC (WIBX) - A penny saved is a penny that is going to be quickly spent by the United States Postal Service.

Effective January 27, 2013 the price of a stamp, including a regular First-Class Mail Forever Stamp, will go up one cent to forty-six cents. A new First-Class Mail Global Forever Stamp will become available for $1.10, permitting mail up to one ounce to be delivered anywhere in the world for one rate.  The postcard mailing rate will increase by a penny as well.

The Postal Regulatory Commission still has to approve the rates, which are capped by federal legislation to not exceed the rate of inflation as calculated under the Consumer Price Index (CPI) program of the United States Department of Labor's Bureau of Labor Statistics.

The USPS is in the midst of its own economic crisis, losing approximately five billion dollars between April and June of this year.  Congress continues to debate ending Saturday delivery among options being considered to lessen the financial crisis with which the USPS is dealing.