Regulators on Tuesday approved a temporary price hike of 3 cents for a first-class stamp, bringing the charge to 49 cents a letter in an effort to help the U.S. Postal Service recover from severe mail decreases brought on by the 2008 economic downturn. Many consumers won't feel the price increase immediately. Forever stamps, good for first-class postage whatever the future rate, can be purchased at the lower price until the new rate is effective on Jan. 26. The higher rate will last no more than two years, allowing the Postal Service to recoup $2.8 billion in losses. By a 2-1 vote, the independent Postal Regulatory Commission rejected a request to make the price hike permanent, though inflation over the next 24 months may make it so. The last price increase for stamps was in January, when the cost of sending a letter rose by a penny to 46 cents. A post card also increased by one cent to 33 cents.
