Postal service to raise stamp prices

RICHMOND, VA (WWBT) - Stamp prices are about to rise again. The announcement comes at a time when people are already pinching pennies.

The price of a first-class stamp will increase from $.44 to $.45 starting January 22nd. It's following a big spending season right after the holidays. People like Milt Clark say they'll just have to adjust.

"We still have to pay our bills and send out things," said Clark. "I wish they were lower but we'll just have to deal with it like everything else."

Some other price increases include:

- Post cards - $.03 increase to $.32.

- Letters to Canada or Mexico (under one ounce) - $.05 increase to $.85.

- The price to mail letters to foreign countries - .07 to $ 1.05.

"Most things seem to be going up right now," Clark added. "We hoped stamps weren't going up. Since they are, we'll just have to deal with the increase and hopefully that will be enough to make them solvent so to speak."

The Post Master General says this is a small adjustment that may help the post office manage its budget shortfall. It was $8 billion in 2010.

"The way the economy is, they should think about how people are struggling to pay bills," said consumer, Marlon Warren. "It seems like it almost goes up every year or every other year."

This is the first price change for first class stamps in more than two and a half years.

"I guess you look at it like we're living in critical times that can be hard to deal with and everybody is getting pinched by it," Warren noted.

Warren says he'd rather see service hours cut instead. Like many others, he'll have to stretch his dollar a bit more.

By law, price increases for mailing services are capped at 2.1 percent. For more information on the price adjustments, visit the USPS website.

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