Postal Services raised cost of first class stamp

UNITED STATES POSTAL Service approved a temporary price hike of three cents for a first-class stamp, bringing the cost to 49 cents a letter.

The increase comes as an effort to help the Postal Service recover from severe mail de- creases brought on by the 2008 economic downturn.

The last increase for stamps was a year ago, when the cost of sending a letter rose by a penny to 46 cents.

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.