Stamp Prices Will Not Increase

The cost of stamps will not be going up.

The postal regulatory commission rejected the .2¢ price hike for first class stamps.

The increase would have raised the cost to mail a letter to .46¢.

The purpose of the hike is part of the postal service strategy for dealing with a deepening financial crisis.

The postal service is on track to end this year and next $7 billion in the red.