Stamp Prices Set to Go Down
We’re used to stories about the price of stamps going up every so often. Well, the price is actually going down this time – to 47 cents. The last time there was a decrease in the price of postage was in 19-19, when it dropped from three cents to two cents. This is only the third price decrease on record going back to the Civil War. The Postal Service doesn’t want the decrease, but it doesn’t have a choice. Its regulator is ordering it. The Postal Service will lose 2-billion dollars due to the decrease. It’s asking for a change in its rate-setting process that could allow it to enact steeper rate hikes in the future. The price drop goes into effect on Sunday.