It’ll cost a penny more to mail a letter next year. The cash-strapped U.S. Postal Service announced yesterday that it will increase postage rates on January 22nd, including a 1-cent increase in the cost of first-class mail, to 45 cents. Under the law, the post office cannot raise prices more than the rate of inflation, which is 2.1%, unless it gets special permission from the independent Postal Regulatory Commission. Because most stamps being issued are “Forever” stamps, they will remain good for first-class postage. But buying new Forever stamps will cost more when the prices go up.

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While the price for the first ounce of a first-class letter will rise to 45 cents, the cost for each additional ounce will remain at the current 20 cents. Other prices will also change:

• Postcards will go up 3 cents to 32 cents.

• Letters to Canada and Mexico will increase 5 cents to 85 cents.

• Letters to other foreign countries will go up 7 cents to $1.05.

• Prices for advertising mail, periodicals and parcels also will rise about 2.1%.

• There will be a new three-month option for renting post office boxes, for people who need them only for a short time.

• Delivery confirmation will be free on some parcel services, rather than being an extra charge.

Source: The Daily Prep

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