First-Class Stamp May Cost 41 Cents

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It may soon cost more to mail a letter. A published report says the U.S. Postal Service is expected to seek approval for an increase in postage rates of at least ten percent early next year.

The Wall Street Journal says the rise would push the price of a first-class stamp to at least 41 cents.

First-class stamps have jumped 12 percent since early 2001. The last increase of three cents to the current 37 cents came in 2002.

The Journal says the expected new rate increase stems partly from the failure of proposed legislation that would have allowed the post office to take advantage of pension-fund savings.