February 11, 2009

Postal Service bumps price of stamps

The U.S. Postal Service said it will raise first-class postage rates by 2 cents May 11 to help cover operating expenses.

The rate hike, bringing a first-class stamp to 44 cents, will cost the average family about $3 a year, the Postal Service said.

Customers can still purchase a Forever Stamp for the current price of 42 cents.

The Forever Stamp is always honored for a 1-ounce letter with no need for additional postage, Postal Service spokesman Stephen Kearney said, CNN reported Wednesday.

The Postal Service first issued the stamp in April 2007.

Whether you're a consumer or run a business, the Postal Service continues to offer a good deal during a time when we're all looking for ways to save, Kearney said.