The Price of Stamps is Going Down For the First Time in 97 Years
Hold those letters, the price of stamps is decreasing for the first time in almost 100 years in the next few weeks.
I constantly think the price of stamps is 32 cents. I mean, I know that's not the price, but there's a chance I was doing most of my letter sending in 1995 when that was the price.
Stamps are currently sold for 49 cents a piece, but as of April 10 this year, that price is decreasing to 47 cents, which is pretty huge if you're buying in bulk. Hear that engaged couples who are planning on sending save the dates and invitations soon? Don't buy your stamps until after April 10.
Why is this happening?
According to WGN TV, the price increased to 49 cents (from 46) in 2014 because of an agreement between Congress and the U.S. Post Office.
The Post Office was trying to increase revenue due to the great losses the Post Office has suffered since we started doing everyone online instead of in the actual mail, and Congress cut a two year deal with them.
While the Post Office would like the increased price to stay, and probably increase more, Congress is removing the extra cost, aside from one cent attributed to inflation.
The last time the cost of stamps went down? July 1919.