WASHINGTON — Peel it and weep: It costs an extra 2 cents to mail a letter starting today.
The price of a first-class stamp climbs to 44 cents, though people who planned ahead and stocked up on 42-cent Forever stamps will catch a break.
It’s the third year in a row that rates have gone up in May under a new system that allows annual increases as long as they don’t exceed the rate of inflation for the year before.
Although the increase will bring in added income, the Postal Service continues to struggle financially as more and more lucrative first-class mail is diverted to the Internet, and the recession discourages businesses from sending their usual volume of advertising.
Postal officials estimate the increase will cost the average household $3 a year.
Still, the increase is unlikely to cover the losses, and the possibility remains that the Postal Service could run out of money before the end of the budget year, Sept. 30.
