Stock Up on Forever Stamps, 3 Cent Increase on Sunday - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Stock Up on Forever Stamps, 3 Cent Increase on Sunday

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Frequent letter senders take note – it may be a good idea to stock up on Forever Stamps before the end of the weekend.

On Sunday it will cost more to mail a letter as the stamp is set to see the biggest price bump it's gotten in quite some time.

Around this time of year we normally see the new stamp prices kicking in, but this latest increase is the biggest in more than a decade.

Starting Sunday, a regular, first-class stamp will cost 49 cents. That's 3 cents more than it would cost you today.

Last year, the stamp hike was only a one cent but this year the USPS has figured their pricing to account for new factors.

Usually the USPS raises prices just enough to keep pace with inflation and another one cent increase would account for that in 2014. However, this year the agency has also added on an additional 2 cents because they need the extra revenue.

The USPS saw $5 billion in losses in 2014 and even more than that the year prior.

Partly to blame for the loss is changing habits. People are mailing fewer letters.

Another part of the problem is the requirement that the agency put $5 billion into a fund every year for future retiree health care benefits.

The USPS is looking for ways to cut costs and still need congressional approval to make cost-cutting moves like cutting back mail delivery. The measures have been unpopular, and have yet to be approved.

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