Cost of a Stamp Just Went Up 3 Cents

The good old USPS got its three-cent rate hike approved today, in a move aimed at stemming the $5 billion that the post office says it lost in the last fiscal year. The change—which brings the cost of a first-class stamp to 49 cents—goes into effect on Jan. 26 for no more than two years, notes the AP, and the Postal Service hopes it will allow it to recoup some $2.8 billion. The first-class stamp wasn't the only product affected: Bulk mail, package services, and periodicals will also see a 6% hike.