Postal Ser­vice says red ink for 11th year in row as mail slumps.

The Denver Post - - BUSINESS -

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 2017 loss came af­ter a dou­ble-digit in­crease in pack­age de­liv­ery was un­able to off­set drop-offs in let­ter mail, which makes up more than 70 per­cent of to­tal postal rev­enue.

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