FIRST CLASS STAMPS UP 3 CENTS IN JANUARY

(12/26/2013)

The price of a first-class letter and most other mail will rise by 3 cents on Jan. 26. It is the largest rate hike in 11 years, the commission that oversees the U.S. Postal Service said. The stamp-price increase to 49 cents will be in effect for two years, giving the financially struggling agency a temporary infusion of extra revenue intended to help it recoup losses suffered during the economic downturn between 2008 and 2011. The Postal Regulatory Commission rejected the Postal Service's petition for a permanent increase, saying that the $2.8 billion infusion should compensate only for the recession, not offset losses caused by Americans' growing use of electronic communications and commercial delivery services.

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