Forever stamps a hot item as postal rate increase looms

On Monday 12th May, the forever stamp will go up a penny to 42 cents, as will the cost of sending a first-class letter.

So customers are flocking to post offices across the country to buy forever stamps at the going rate of 41 cents.

Forever stamps allow customers to lock in their postage rate regardless of how much a stamp costs in the future.

Nationwide, more than 60 million forever stamps are being sold daily, up from 30 million a day just a few weeks ago, the U.S. Postal Service said.

Postage rates last went up in May 2007, with a first-class stamp jumping 2 cents to the current 41-cent rate.

the past, raising postage rates was a complex process involving hearings before the independent Postal Regulatory Commission, a process that could take nearly a year.

But under the new law regulating the post office that took effect in late 2006, the agency can increase rates with 45-days notice as long as changes are within the rate of inflation for the previous 12 months. The Postal Regulatory Commission calculated that at 2.9 percent through January. That limited the first-class rate to an increase of just over a penny.

Under the new law, postal prices will be adjusted each May, the Postal Service said. Officials said they plan to give 90 days notice of future changes, twice what is required by law.

While the charge for the first ounce of a first-class letter rises to 42 cents, the price of each added ounce will remain 17 cents, so a two-ounce letter will go up a penny to 59 cents.

Sales of forever stamps are expected to increase throughout the week. More than 6 billion forever stamps have been sold since they were first offered in April 2007.

On Monday 12th May, the forever stamp will go up a penny to 42 cents, as will the cost of sending a first-class letter.

So customers are flocking to post offices across the country to buy forever stamps at the going rate of 41 cents.

Forever stamps allow customers to lock in their postage rate regardless of how much a stamp costs in the future.

Nationwide, more than 60 million forever stamps are being sold daily, up from 30 million a day just a few weeks ago, the U.S. Postal Service said.

Postage rates last went up in May 2007, with a first-class stamp jumping 2 cents to the current 41-cent rate.

the past, raising postage rates was a complex process involving hearings before the independent Postal Regulatory Commission, a process that could take nearly a year.

But under the new law regulating the post office that took effect in late 2006, the agency can increase rates with 45-days notice as long as changes are within the rate of inflation for the previous 12 months. The Postal Regulatory Commission calculated that at 2.9 percent through January. That limited the first-class rate to an increase of just over a penny.

Under the new law, postal prices will be adjusted each May, the Postal Service said. Officials said they plan to give 90 days notice of future changes, twice what is required by law.

While the charge for the first ounce of a first-class letter rises to 42 cents, the price of each added ounce will remain 17 cents, so a two-ounce letter will go up a penny to 59 cents.

Sales of forever stamps are expected to increase throughout the week. More than 6 billion forever stamps have been sold since they were first offered in April 2007.