Updated: 01/27/2014 9:15 AM |
Created: 01/27/2014 9:14 AM
By: Elizabeth Reed, KOB.com
First-class postage stamps are now more expensive.
The price shot up on Sunday by three cents. Stamps now cost 49 cents each.
The price hike, approved in December, is meant to account for losses the postal service suffered during the recession.
According to the Associated Press, the Postal Service lost $5 billion last year and has been trying to get Congress to let it end Saturday delivery and reduce payments on retiree health benefits.
(The Associated Press contributed to this report)