7% Price Increase On Stamps

First-class stamps are to receive a 7% price increase starting January 26 2014. The price increase will raise the price of stamps 3 cents from 46 cents to 49 cents. Normally the US Postal Service cannot raise prices more than the rate of inflation which is currently 1.7% but this is a temporary raise to recoup $2.8 billion of the $5 billion lost this past year. The USPS does not receive tax money for funding but is regulated by congress. The price increase is supposedly not going to be permanent and should last no more than two years. If you mail letters frequently then you should go buy a few stamp books now before Jan 26.