Postal Service approves new mailing prices

The Governors of the U.S. Postal Service have approved a 2-cent increase in the price of a First Class stamp.

Postal rates are reviewed annually and updated every May. This year's rate changes will go into effect May 11, according to a news release.

The price of a First Class 1-ounce stamp will be 44 cents. Forever Stamps can be purchased at the current price until May 11 and can be used forever.

Postage for a 1-ounce large envelope will go up 5 cents to 88 cents, and postage for a 1-ounce parcel will go up 5 cents to $1.22. Postcard postage will go up 1 cent to 28 cents.

The price for each additional ounce will remain at 17 cents.

"The Postal Service is not immune to rising costs which are affecting homes and businesses across America today," Postmaster General John Potter said in the release. Officials said the increases track the 2008 inflation rate.

A complete list of the new prices can be downloaded at the link below.