Price Of A First-Class U.S. Postage Stamp Drops This Weekend
(CBS) -- For the first time in nearly 100 years, the price of a first-class stamp is dropping.
"It's good for me because I do use the mail very often," postal customer Elisa Rodriguez tells CBS 2's Suzanne Le Mignot.
The reduction is part of a deal between the U.S. Postal Service and the Postal Regulatory Commission. Two years ago, the price of a stamp was raised by two cents so that the USPS could recoup $4.6 billion in losses attributed to the Great Recession.
On Sunday, the cost of a stamp will decrease from 49 cents to 47 cents.
Postal customers may be elated, but the USPS isn't. The postal service says its financial problems have not disappeared.
"Given our precarious financial condition and ongoing business needs, the price reduction required by the PRC exacerbates our losses," the postmaster general said in a prepared statement.
