Postage is going up again. You should care, even if you don’t send mail

On Sunday, the cost of a stamp is going up for the second time this year, jumping 5 cents for first class postage to 73 cents. You probably didn’t notice.

On Sunday, the cost of a stamp is going up for the second time this year, jumping 5 cents for first class postage to 73 cents. You probably didn’t notice. And truthfully, you may not care. But you should. Most people don’t use mail the way they used to – if they send out mail at all. But the price of postage is a big deal to millions of businesses and organizations that spend most of the $40.8 billion a year spent on mail, including letters, bulk mailings, junk mail and periodicals. And higher prices are making them cut back – and hurting the budget of the US Postal Service and, potentially, its ability to continue its crucial services. That includes everything from delivering online purchases to life-saving prescription drugs. And this year, tens of millions of voters will cast their ballots in the presidential election by mail. And, most of all, businesses still depend on the mail to help them reach customers and keep the economy going. Postage increases used to be pegged to inflation, usually going up at most once a year. But Sunday will mark the sixth increase in three years, during which first-class stamp increases rose 10 percentage points faster than overall inflation. Major mailers say hiking prices that quickly will drive them away from the post office, eventually drying up the agency’s budget.