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Mailing a letter to cost a penny more next year

Posted at: 10/12/2012 6:34 AM
By: Associated Press

It'll cost another penny to mail a letter next year.
    
The cash-strapped U.S. Postal Service said Thursday that it will raise postage rates on January 27, including a $0.01 increase in the cost of first-class mail to $0.46.
    
It also will introduce a new global forever stamp, allowing customers to mail letters anywhere in the world for one set price of $1.10.
    
Under the law, the post office cannot raise prices more than the rate of inflation, or 2.6-percent. The mail agency, which expects to lose a record $15-billion this year, has asked Congress to give it new authority to raise stamp prices by $0.05, but the House has yet to act.
    
The Postal Service also will increase rates on priority mail shipping, by four-percent.