According to NBC Local News on Monday, Feb. 29, the price of a first-class postage stamp in the United States is slated to drop for the first time in nearly 97 years. International Business Times reported that the cost of first-class stamps is expected to decrease on April 10.
The United States Postal Service had an agreement with Congress to allow the cost of first-class postage to increase by three cents to boost its revenue in 2014 on a temporary basis. That measure was to help raise $4.6 billion in revenue. The increase was to last only two years. That means the temporary increase is over. However, the Post Office wants to keep stamps at 49 cents. It says rolling back prices to 47 cents will cost the already badly bleeding Post Office $2 billion a year.
CNN Money reports that the cost of mailing a one-ounce letter will go down two cents from 49 to 47 cents. Commercial prices will decrease. Postcard stamp prices will drop by a penny to 34 cents, and international stamps will go down from $1.20 to $1.15.
Most people were not even born when the United States Postal Service lowered the price twice before. The Alliance of Nonprofit Mailers indicated that on July 1, 1885, there was a two-cents reduction in the price of a first-class letter. On July 1, 1919, a one-cent surcharge was removed, and first-class stamp prices dropped from three cents to two cents.