After D.C. appeals court ruling, price of stamps going down
WASHINGTON — The price of stamps is going down.
The Washington Post says a D.C. appeals court ruled the United States Postal Service cannot permanently sell stamps at 49-cents each.
Prior to January of 2014, stamps only cost 46-cents.
The increase was allowed by postal regulators after the Postal Service claimed it lost billions in the recession.
However, regulators said the Postal Service could only recoup about $3 billion from the rate hike.
The cap will be reached this summer.
The court questioned how regulators came up with that figure and said the Postal Service has to adjust to the current economic climate.
It is unclear when the rates will go down and by how much.