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May 16, 2008 10:19:45 AM CDT

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Stamp Price to Hit 42 Cents on Monday  

Posted May 10, 08 2:17 PM CDT in Business    Most Covered

(newser) – There’s a run on the post office today as Americans snap up first class stamps before they cost a penny more on Monday, the Los Angeles Times reports. If the 42-cent price seems insignificant, just think of Netflix, which sends and receives nearly 2 million parcels a day, and pays both ways.

Small businesses and Christmas card senders are also stocking up, but regular folks should take notice: The price hike is the first under a new law that allows the USPS to raise prices on “competitive products” like Express mail as it sees fit. “The idea of the new law was that we would be a more business-like operation," one official said.

Source Los Angeles Times

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    1st-Class Stamp Price to Rise 1¢ First-class snail mail will cost a penny more starting May 12, the US Postal Service announced today. Stamps are going up to 42¢, as is the Forever stamp, which was billed as a hedge against future first-class rate increases when it was introduced last year. The 41¢ Forevers will still work after the rate hike. More »

Stamp Price to Hit 42 Cents on Monday
Parcels are automatically sorted at the United States Postal Service Leslie N. Shaw Sr. Processing and Distribution Center in Los Angeles.   (AP Photo/Damian Dovarganes)
Stamp Price to Hit 42 Cents on Monday
The Forever stamp. In the run-up to the rate increase, Americans have been buying 30 million Forever stamps a day.   (AP Photo/USPS)
Stamp Price to Hit 42 Cents on Monday
A man holds a roll of a 100 USA First-Class stamps.   (AP Photo/Damian Dovarganes)
Stamp Price to Hit 42 Cents on Monday
A woman uses a dolly to carry packages she needs to mail into the main Post Office in Providence.   (AP Photo/Stew Milne)
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