FAIRFIELD COUNTY, Conn. — For the first time in nearly a century, the U.S. Postal Service has dropped the price of postage stamps.
According to the postal service website , these price changes went into effect on Sunday:
- a regular stamp dropped from 49 cents to 47 cents;
- a postcard stamp decreased by a penny to 34 cents; and
- international mail went down by a nickel, to $1.15 from $1.20.
But why the price dropped is a bit complicated. According to Forbes, the price cut came as a program ended that allowed the USPS to temporarily increase prices to make up for revenue it lost when mail volume fell sharply in 2008. But the amount was capped at $4.6 billion, which the Postal Service was set to hit by Sunday, Forbes said.
The last time the price of stamps went down was in 1919, when Congress reset prices to their pre-World War I levels, Forbes reported.
It might be a good time to stock up on stamps again.
Click here to read the Forbes story.
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