5-cent price increase for the the United States Postal Service's (USPS). The "forever" 55-cent postage stamp goes into effect Sunday January 27th 2019, marking this largest price hike for the stamp since 1991.
Click Here for new Postal Rates Effective January 27th 2019
7The USPS proposed this price increase from 50 to 55 cents in October 2017, and the increase was approved in November 2017 by regulators.
The 10 percent increase is the largest postage hike since 1991, when the price of the stamp jumped 16 percent from 25 cents to 29 cents in the United States.
The 5-cent postage hike is also the biggest nominal price increase in history.
Also going into effect January 27th 2019 are increases to priority mail rates by 5.9 percent and priority mail express rates by 3.9 percent.
The USPS said in a statement at the time of the recent proposal that the Governors of the Postal Service "believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue."
The USPS reported a net loss of $3.9 billion during fiscal 2018.
Source: The Hill
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