First Class Stamp Will Cost 58 Cents in USPS Rate Increase Plan
- U.S. Postal Service says it needs revenue to stabilize books
- Proposed price increase comes amid slumping volume, service
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The U.S. Postal Service said it plans to boost the price of a first class stamp to 58 cents from 55 cents as it works to stabilize finances amid slumping mail volume and lagging delivery.
The increase of 6.8% in the first class stamp is part of a set of proposed rate hikes filed Friday with Postal Regulatory Commission. It would take effect Aug. 29, the Postal Service said in a news release.