Sixth Postage Hike in Eight Years
A first-class stamp will cost 46 cents, up from 44 cents.
It’s the sixth price hike by the U.S. Post Office in the past eight years.
The postal service has said the increase is necessary after record losses over the past several years. Analysts say the losses are attributable at least in part to more people using email rather than conventional ‘snail mail.’
As a result of the fiscal challenges facing the Post Office, more cost-cutting measures may be on the way, including the discontinuation of Saturday mail delivery, and the closing of thousands of distribution centers and post offices.