USPS is reducing the cost of stamps

Posted at 8:15 AM, Apr 10, 2016
and last updated 2016-04-10 09:15:23-04

The next time you send a letter to Grandma, it will cost you a little less. 

For the first time in nearly a century, the U.S. Postal Service is dropping the cost of stamps — but not by choice. 

The 2-cent price reduction is a mandate from the Postal Regulatory Commission, the independent federal agency that oversees the Postal Service. In January 2014, the PRC allowed the post office to temporarily increase the price of stamps to help it recover from the recession. 

That surcharge ends April 10, bringing the price of stamps down to 47 cents, as well as reducing the cost of other mail services. The USPS estimates the price cuts will cost it $2 billion per year.

There is one downside for those of us who still use snail mail — stocking up on Forever Stamps in the last two years wasn't so cost effective after all. 

The video includes images from Getty Images and clips from the U.S. Postal Service