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Postage to increase
usps logo on box w sm
In an attempt to offset some of the $15.9 billion in losses in U.S. Post Office revenue in 2012, the United States Postal Service has announced that postage rates for a first-class postage stamp will rise by one penny Jan. 27.The cost to mail a postcard will also see one-cent increase.The new hikes in rates are identical to last year's increases.The new postal rates areas follows: small box, $5.80; medium box, $12.35; large box, $16.85; large APO/FPO box, $14.85; regular envelope, $5.60; legal envelope, $5.75; and padded envelope, $5.95.A new global "Forever" stamp is available for $1.10. It allows for letters to be mailed to any location in the world for a flat-rate.The letter cannot be more than one ounce.The penny hike raises the price of a first-class domestic stamp from 45 to 46 cents.The price to mail a postcard will be 33 centsWhile the “Forever” stamp will allow USPS customers to send mail anywhere in the world for a set price of $1.10, the cost of mailing letters internationally varies, and the new stamp will raise the price for most locations by five cents.Customers whose mail travels to Mexico and Canada will pay an additional 25 cents.The uptick in postage costs may not help the postal service’s deficit problem very much.The agency lost a record $15.9 billion in 2012 and defaulted twice on Congress-required payments.Now that the election is over, reforming the postal system is expected to be high on Congress’ agenda.Legislators have been working for more than a year to deal with USPS’ financial problems, and the agency’s officials have proposed a greater increase in postage price and eliminating Saturday mail service to cut costs.