(04/11/2016)
The price of stamps is going down.

The US Postal services is dropping the price of a US-bound first class stamp by 2 cents.

Stamps will go from 49 cents to 47 cents starting on April 10th. The last time the postal service dropped prices was in 1919 when a first class stamp went from 3 to 2 cents.

The price drop, according to a release from the US Postal Service, was prompted by an act of Congress passed in 2013 that let the USPS add a surcharge to stop massive losses due to the Great Recession

The act is set to expire when the surcharges accounted for $4.6 billion in revenue.

The USPS says the drop is devastating on the universal service, and will lead to an additional $2 billion dollars in annual losses.

Without the surcharge stamp prices are tied to inflation by congress. Inflation has not moved, said Brennan, in several years.


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