US mail stamp prices to go higher starting January 2013

By on Oct 14, 2012 in Economy, Lifestyle, United States Comments

Updated: January 6, 2013 2:25 a.m.

Read US Postal Service rescue from new Congress needed, losing $25 million everyday, Postmaster General says

The US Postal Service (USPS) announced on Thursday, October 11, 2012 that stamp prices will go higher again starting January 2013, more than two weeks after the agency announced that it will default its $5.6 billion payment to the Treasury office due September 30, their second time in two consecutive months.

US stamps

US stamps
Image Credit: Getty Images

According to the announcement at USPS.com that day, they will introduce a new stamp called First-Class Mail Global Forever Stamp, which will allow customers to send letters anywhere in the world for one set price of $1.10. Stamp prices will also be 1 cent higher, which will start on January 27, 2013.

As noted in the report, stamps for 1 oz. letters will be 46 cents and 33 cents for postcards. They are currently worth 45 cents and 32 cents. USPS also increased a cent last year and was implemented last January 22, 2012. The Postal Regulatory Commission (PRC) will still review them before the implementation date.

However, stamps prices for letters with additional ounces will still be 20 cents, while letters to all international destinations (1oz.) will remain $1.10. The said prices were not increased during the price hike announcement in 2011. This new price hike is their second since May 2009.

Apparently, the US law states that the US Postal Service cannot increase their prices more than the rate of inflation, or 2.6 percent, not unless the agency acquires special permission from the US Congress. Since they are expecting a loss of $15 billion, they requested for a 5-cent increase but it has not been approved.

Last December, the USPS also announced that mail delivery in 2012 will be a bit slower since they have plans to close some of their centers and affecting around a hundred thousand employees, as part of their cost reduction project, where their projected saving amounting to $3 billion by 2015.

Meanwhile, the US Postal Service said that they will also introduce several new Shipping Services products starting January 2013, which include free tracking to all competitive packages, including retail Priority Mail and Parcel Post which was recently renamed as Standard Post.

Related Post: Mail stamp prices to go higher by 2012, US Postal Service says



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