Postal rates are set to increase Monday

By Rebecca Walezak,

Postal rates for most mail will rise on Monday in an attempt to help the U.S. Postal Service recoup some of its losses during the economic fall.

According to the Washington Post, this will be the largest rate increase in 11 years. First-class stamps will go up to 49 cents. The increase, however, will only be in effect for about 24 months.

There are currently many claims filed against the increase in prices by the mail agency and the industry which is representing bulk mailers, but all for different reasons. While bulk mailers are generally unhappy with the price boost, the USPS is not satisfied because the increase will only be over a two-year period.

The Associated Press reports that the Postal Service lost $5 billion last year and has been trying to have Congress approve ending Saturday deliveries.

Regulators approved the postal increase back in December. It officially went into effect on Sunday.

Whatever future rates may come, those who have Forever Stamps can use them for all types of postal work. They will remain unaffected by the price increase.

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