Stamp prices to increase after the first of the year

Those Forever stamps are about to get more valuable.

The cost of mailing a first class letter goes up by a penny, to 46 cents, in January.{} The U.S. Postal Service{}also will introduce a new global Forever stamp, allowing customers to mail letters anywhere in the world for one set price of $1.10.

The Postal Service also will increase rates on priority mail shipping, by 4 percent.

Under the law, the Post Office cannot raise prices more than the rate of inflation, or 2.6 percent. The mail agency, which expects to lose a record $15 billion this year, has asked Congress to give it new authority to raise stamp prices by 5 cents, but the House has yet to act.