Price for first-class stamp rises to 49 cents

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WASHINGTON (AP) — It’s going to cost you a few pennies more to mail a letter.

The cost of a first-class postage stamp is now 49 cents — 3 cents more than before.

Regulators approved the price hike in December, and it went into effect on Sunday.

Many people won’t feel the increase right away: Forever stamps are good for first-class postage at whatever the future rate.

The last increase for stamps was a year ago, when the cost of sending a letter rose by a penny to 46 cents.

The Postal Service lost $5 billion last year and has been trying to get Congress to let it end Saturday delivery and reduce payments on retiree health benefits.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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