Get Ready For Higher Stamp Prices In August — And A Delivery Slowdown

Changes are coming to the U.S. Postal Service, and they might not be entirely welcomed by consumers, who will pay more for stamps starting in late August while potentially facing longer delivery times for mail.

A proposed increase in stamp prices was approved Monday by the Postal Regulatory Commission (PRC), the federal regulator that oversees the postal agency, which found that the higher prices are in line with postal regulations. The USPS said in May that it planned to raise first-class stamps to 58 cents from its current 55 cents. The higher price will kick in on August 29, the USPS told CBS MoneyWatch.

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Aimee Picchi