Cost of a postage stamp set to increase once again
The rate for a single postage stamp is about to increase again, this time by another three cents. The new rate for a single stamp will increase to 49 cents on the 26th of January. Customers can purchase "forever" stamps until the new rate goes into effect. Postal officials say the "temporary" increase will remain in effect until the postal service can recoup 2.8 billion in losses. A request to make the rate hike permanent was rejected by the independent postal regulatory commission. Officials say the postal service has been greatly affected by declining mail volume due to the recession and growing use of the internet.