Postal Service proposes 3-cent raise on stamp prices

Last edited 9:40 a.m., Sept. 26, 2013

On Wednesday, the U.S. Postal Service submitted a proposal to the Postal Regulatory Commission to raise stamp prices 3 cents to 49 cents, according to CNNMoney.

The proposal also includes raising postcard stamps 1 cent to 34 cents. The changes would go into effect in January and would result in $2 billion for the agency.

The Postal Service lost $740 million in the three months ending June 30, and has lost $3.9 billion this year. In 2012, the Postal Service lost $16 billion. There also has been a decline in the volume of mail handled; 37.9 billion pieces of mail were handled during the months April–June, compared to 38.3 billion during the same period last year.

Read more at CNNMoney.