The Day

POSTAL SERVICE LOSING STREAK HITS 11 YEARS

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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.

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