POSTAL SERVICE LOSING STREAK HITS 11 YEARS
Washington — The beleaguered U.S. Postal Service is reporting a financial loss for the 11th straight year, citing declining mail volume and costs of its pension and health-care obligations. It is pleading for more freedom to raise stamp prices to help keep pace with consumer demand for ever-quicker package deliveries. The Postal Service says it lost $2.7 billion for the fiscal year that ended Sept. 30. That was better than a $5.6 billion loss in the prior year but mainly due to fluctuations in interest rates. The Postal Regulatory Commission is deciding whether to give the Postal Service greater power to raise stamp prices. The price of a first-class stamp is now 49 cents.