First-class stamp now costs 37 cents
Beginning today the cost of mailing a letter will increase by 3 cents, to 37 cents, as the price of first-class stamps and other postal rate increases take effect.
Besides first-class stamps, increases will also effect postcards, parcel post, priority mail, expressed and certified mail as well as several other rate categories including those for bank statements, presorted utility bills, magazines and national newspapers. Postal Vice President Azeezaly Jaffer said the combined increases will cost the average person an additional 45 cents a month.
Postmaster John Potter has promised rates will not be raised again until at least 2004.
Today’s increases were approved in February by the independent Postal Rate Commission to compensate for $1.6 billion in losses posted by the postal service last year. To blame for the losses, say postal officials, is declining mail volume in the slowing economy. The postal service does not receive taxpayer money for its normal operations.
An additional burden was placed on the postal service with the terrorist attacks of Sept. 11 and subsequent anthrax scare. That created hundreds of millions of dollars in added expenses. Much of this money will be provided by Congress, however, as it has approved $675 million for damage and to help pay for sanitizing government mail.
Cost-cutting measures taken by the postal service include halting all new construction and eliminating 12,000 positions last year and an additional 8,000 this year.
New stamps covering the increased rate have been on sale since early June. Additionally, the postal service has been printing millions of extra 3-cent stamps to help people use their remaining 34-cent stamps. Both can be purchased at any post office, online at www.usps.com or by phone at 1-800-STAMP24.
New postage rates taking effect today include:
First-class Letter 37 cents
Postcard 23 cents
Priority Mail (1lb.) $3.85
Express Mail (1/2lb.) $13.65
Certified Mail $2.10
Insurance (up to $50) $1.30
Insurance (up to $100) $2.20
Return Receipt $1.75
P.O. Box $12
For more information:
www.usps.com
or call 1-800-STAMP24