The United States Post Office raised the price of first class postage one penny to forty-two cents ($0.42), effective May 12th. The USPS is now allowed to adjust stamp prices independently, based on inflation. Under new rules, the Postal Service can increase the price of a stamp by a penny without any oversight as long as it gives 45 days notice. You may recall that the USPS already increased the price of a first-class stamp to 41 cents in 2007, a two-cent hike at the time.

Other USPS Price Hikes, effective May 12:

Postcard rate is up 1 cent to 27 cents
Large Envelope rate is up 3 cents to $1.00
Certified Mail is up 5 cents to $2.70

Penny Wise Advice:
With postal rates going up a couple times a year, and stagflation looming on the horizon for the U.S. economy, it may be wise to buy a bunch of “Forever Stamps” next time you’re at the Post Office. These special non-denominated stamps, now priced at $0.42 each, are “immune” to price hikes. “The stamp will be good for mailing one-ounce First-Class letters anytime in the future — regardless of price changes,” the USPS has promised.