Price for first-class stamp rises to 49 cents

Price for first-class stamp rises to 49 cents
FILE - The United States Postal Service Seattle Processing and Distribution Center in Tukwila, WA processes all outgoing priority mail. December 17th 2013. (Joshua Lewis / KOMO News)
WASHINGTON (AP) - It's going to cost you a few pennies more to mail a letter.

The cost of a first-class postage stamp is now 49 cents - 3 cents more than before.

Regulators approved the price hike in December, and it went into effect on Sunday.

Many people won't feel the increase right away: Forever stamps are good for first-class postage at whatever the future rate.

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.