Postage rate increases set for big hike next week

Cost to mail a first class letter will increase five cents from 50 cents to 55 cents Jan. 27, a hike which is believed to be the largest postage jump in U.S. history.

The first class stamp, which became synonymous with a forever stamps in 2011 with the price set at 44 cents, are for mail up to one ounce.

According to the USPS Forever Stamp fact sheet, the forever stamp was introduced in 2007, with prices set at 41 cents. It allowed customers some extra security, as even with price changes the stamp will still be good. That same year also introduced shape-based postage pricing and with differen...