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Stamp will cost a penny more — 45 cents

Updated: October 19, 2011 8:59PM



It’ll cost a penny more — a 45-cent stamp — to mail a letter starting Jan. 22, and mailing a postcard will go up three cents, to 32 cents.

The cash-strapped U.S. Postal Service plans to increase postage rates after losing $8 billion in its 2010 udget year, with its financial picture likely to be even worse when final figures for fiscal 2011 are released next month.

Under the law the post office cannot raise prices more than the rate of inflation, which is 2.1 percent, unless it gets special permission from the independent Postal Regulatory Commission. The PRC last year turned down such a request.

A first-class stamp has been 44 cents since May 2009.

Letters to Mexico and Canada will increase a nickel, to 85 cents. Letters to other foreign countries will go up 7 cents, to $1.05.

AP



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