Beginning May 12, the price of stamps will rise a penny to 42 cents.
Raising the price of a stamp has in the past been a complex procedure involving a hearing by the Postal Regulatory Commission that could take up to a year.
But a new law, effective in 2006, allows the Postal Service to raise prices by the rate of inflation over the past 12 months as long as it gives notice 45 days in advance.
The Consumer Price Index calculated inflation to be 2.9 percent through January, resulting in a cent raise for postage.
“I never know what the stamp price is,” said Stephanie Spilker, a fourth-year political science student. “It’s confusing because you don’t know when it changes.”
The price of stamps has been steadily rising and was last increased in May 2007 when it rose two cents to the current rate of 41 cents.
The Postal Service plans to adjust the price annually each May in accordance with the Postal Accountability and Enhancement Act and will attempt to give 90 days notice in the future.
While the actual change in price does not affect the average person that much, using old stamps can be a hassle.
“It’s annoying to buy those one-cent or two-cent stamps,” said John Walker, a fourth-year cognitive science student.
Along with the standard envelope, the price of other mail such as periodicals, packages and advertising mail will change anywhere from one cent to five cents depending on the type.
Postcards will also increase by a penny, bringing the cost of postage to 27 cents.
Jason Ko, a first-year electrical engineering student, believes the change in price will not affect him that much.
“If it went up a dime, it would matter,” Ko said. “As long as the raise is within ten cents, it’s fine.”
Similarly, Bruno Blanchi, a post-doctorate student, said he does not see the rates as too large a blow.
“I don’t use mail that much, so I don’t care,” Blanchi said. “The change will be less than a dollar a year ““ it’s not that much money.”
While the Postal Service still maintains lower rates than companies such as Fedex, the increasing use of these companies combined with postage price hikes could hurt the agency.
In an attempt to ease people into the higher rates, the post office introduced the Forever Stamp in April 2007. The mail covered by the Forever Stamp is among the types of mail that are included in the price increase.
In a press release by the Postal Service, the Postmaster General, John Potter, said he “(encourages) Americans to buy Forever Stamps now for 41 cents, because like the name suggests, they are good forever.”
The popularity of the stamp is widespread and growing as a result of the recent announcement.
“I like the Forever Stamps,” Walker said. “I’ve been trying to buy those.”
Five billion Forever Stamps have been sold since their introduction, and the post office expects to produce another 5 billion before May in response to the expected demand.
Priority and Express Mail changes have not yet been announced but are expected in March.