Stamp Prices To Increase One Cent

The price you pay for a book of stamps will increase later this month. The United States Postal Service (USPS) will charge 45 cents for stamps starting on Jan. 22 - a one cent increase.

By law, the USPS is unable to raise the price of stamps more than the rate of inflation, which is 2.1 percent as reported in the Christian Science Monitor.

Stock up on "Forever" stamps now as you will still be able to use them after rates go up. Other price changes include postcards, which will cost 32 cents instead of 29, letters to Canada and Mexico will cost 85 cents as opposed to the previous 80 cents, letters to other foreign countries will cost $1.05 instead of 98 cents and prices for advertising mail, parcels and periodicals will rise 2.1 percent.

Some positive changes: you will be able to rent a post office box for only three months if necessary and delivery confirmation will be free on some parcel services, according to the Christian Science Monitor.

The USPS lost $8 billion in fiscal 2010. The stamp and mailing rate increase will not allow for much recovery, but the USPS is looking to make cuts in other areas as well.  

North Reading is one of seven cities and towns in Massachusetts that . The is currently being studied. The USPS is looking to make approximately $3 billion in reductions by closing more than 250 processing centers across the country and in turn, laying off 30,000 workers.