WASHINGTON (AP) â€” The cost of mailing a letter goes up a penny to 42 cents on Monday, the latest in what are expected to be annual price adjustments by the Postal Service.
A new law regulating the post office makes it easier to raise rates as long as the agency doesn’t exceed the rate of inflation. Rates are to be adjusted each May.
But the post office also has introduced a way for people to save money when the price goes up, the Forever stamp, which remains valid for first-class postage regardless of any increases.
With the rate increase approaching, sales of the Forever stamp reached 64 million-a-day in April, postal officials said.
Forever stamps currently sell for 41-cents, but can be used after the rate increase without any additional postage. However, when the rate goes up, so does the price of Forever stamps.