U.S. Postal Service to petition for 60 cent stamp price

Tom Hinde

Is a 60 cent postage stamp coming? The U.S. Postal Service (USPS) is looking to boost prices for mailing letters and packages by nearly 20 percent. If approved, the increase would be the biggest one-time price jump in history. Industry analysis says the increase is needed to avoid bankruptcy and improve delivery service.

The current price of a first-class stamp is 49 cents and the post office is limited on increasing rates beyond the rate of inflation. USPS is petitioning the Postal Regulatory Commission for the increase. The commission's decision is expected within weeks. If granted, the cost of mailing everything from letters and periodicals to election ballots by mail would spike substantially.