Pinellas County residents will pay 3 cents more to mail a first-class letter beginning Jan. 26.
Pinellas County residents might want to restock their supply of postage stamps before Jan. 26.
The United States Postal Service is increasing the price of a First-Class Mail single-piece letter from 46 cents to 49 cents. The proposed changes are intended to generate $2 billion in incremental annual revenue for the Postal Service.
Letters that weigh more than one ounce will cost a penny more per ounce and postcards also will cost a penny more with the price increasing to 34 cents. Letters, weighing one ounce or less, going to all international destinations will cost $1.15.
Stamp prices have stayed consistent with the average annual rate of inflation of 4.2 percent since the Postal Service was formed in 1971, according to a press release.
The Postal Service recorded a $15.9 billion net loss last fiscal year and expects to record a loss of roughly $6 billion in the current fiscal year, and has an intolerably low level of available liquidity even after defaulting on its obligation to make prefunding payments for retiree health benefits.
A self-supporting government enterprise, the U.S. Postal Service is the only delivery service that reaches every address in the nation: 152 million residences, businesses and Post Office Boxes. The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations. With more than 31,000 retail locations and the most frequently visited website in the federal government, usps.com, the Postal Service has annual revenue of more than $65 billion and delivers nearly 40 percent of the world's mail.