Advertisement

Fed Regulator Moves to Allow Bigger Jumps to Stamp Prices

Fed Regulator Moves to Allow Bigger Jumps to Stamp Prices

HOPE YEN, Associated Press
December 01, 2017 06:31 PM

WASHINGTON (AP) - Federal regulators are moving to give the U.S. Postal Service more freedom to raise stamp costs beyond the rate of inflation.

Advertisement – Content Continues Below

The Postal Regulatory Commission announced its decision Friday.

The commission's proposal would allow the beleaguered Postal Service to increase the price of a first-class stamp by an additional 2 percent above the rate of inflation to avoid bankruptcy and improve mail and package delivery. The current price is 49 cents, so the increase could mean an increase of up to a few cents each year, depending on rates of inflation.

The prospect of higher prices irks mail-order industry, which could pay millions more for sending items like prescription drugs and magazines and pass costs onto consumers.

The plan will go through a 90-day comment period before taking effect.


Credits

HOPE YEN, Associated Press

Copyright 2017 The Associated Press. All rights reserved.

Advertisement
Advertisement
Relay Media Amp

Protesters, Concerned About Riot Gear, Interrupt Duluth Council Meeting

Two More Virginia Residents Treated for Carbon Monoxide Poisoning

Protestors March Against Enbridge Line 3 Project

Two Men Rescued After Falling Through Ice on the Range

Duluth Asks for Feedback on Superior Street Lighting

Walker to Sign Bill Lifting Mining Moratorium

Advertisement