Phoenix Business Journal by Jeff Clabaugh, Broadcast/Web Reporter
The U.S. Postal Service has announced rate increases for 2012 that will raise the cost of a Forever Stamp one penny to 45 cents, the first increase in First Class postage in more than two years.
The Postal Service will also raise the cost of a post card 3 cents to 32 cents, raise the cost of letters to Canada or Mexico by 5 cents to 85 cents and raise the cost of letters to other international destinations by 7 cents to $1.05.
“The overall price increase is small and is needed to help address our current financial crisis,” said Postmaster General Patrick Donahoe. “We continue to take actions within our control to increase revenue in other ways and to aggressively cut costs.”
The new prices go into effect Jan. 22, 2012.