Domestic First-Class Mail Rate Now 45 Cents

If you’ve got a book of 44-cent stamps in your desk, you’ll want to get a book of one cent stamps to go along with them.

After 2 1/2 years of steady prices, the cost of mailing a letter first class increased Sunday to 45 cents.

The Postal Service's Forever stamps purchased before the 1-cent rate hike will still be valid. If you have leftover 44-cent stamps, you can purchase a book of 1-cent stamps to make up the difference.

Other mail rates are rising as well.

Postcard stamps will jump in price to 32 cents from 29 cents.

Mail to Mexico and Canada will cost 85 cents per stamp, up 5 cents. Other international mail will see the biggest hike: It will now cost $1.05 to send letters abroad, up from 98 cents. 

The price increase comes in the midst of significant financial troubles for the U.S. Postal Service as the volume of mail decreases.

“The overall average price increase is small and is needed to help address our current financial crisis,” said Postmaster General Patrick Donahoe in a statement. “We continue to take actions within our control to increase revenue in other ways and to aggressively cut costs.” 

The Postal Service ended its fiscal year 2011 at a $5.1 billion loss. It delivered 3 billion fewer pieces of mail in 2011 than in 2010. 

In December, new bills were introduced in the U.S. House and Senate that are intended to strengthen the agency, and according to the American Postal Workers Union, the Postal Service has issued a five-month moratorium on post office and plant closings. The Dexter Post Office will remain open.