Posted at: 12/26/2013 10:18 AM
WASHINGTON (AP) - It's about to cost close to 50 cents to mail a letter.
Regulators have approved a temporary price hike of 3 cents for a first-class stamp, bringing the cost of mailing a letter to 49 cents, beginning Jan. 26.
The Postal Service hopes the higher rate will help it recoup about $2.8 billion in losses.
The price hike is to last no more than two years.