Postal Ser­vice pro­poses 5 cent in­crease to first-class stamp

Yuma Sun - - OPINION -

WASH­ING­TON — The U.S. Postal Ser­vice is seek­ing to in­crease the price of its first-class stamp by 5 cents to 55 cents to help stem its mount­ing red ink.

If ap­proved by reg­u­la­tors, the 10 per­cent in­crease to the cost of mail­ing a 1-ounce let­ter would be the big­gest since 1991. The price of each ad­di­tional ounce would go down, from 21 cents to 15 cents.

The pro­posed in­crease would take ef­fect in Jan­uary. It comes as Pres­i­dent Don­ald Trump has crit­i­cized the Postal Ser­vice for “los­ing a for­tune” by not charg­ing higher ship­ping rates for on­line re­tail­ers such as Ama­zon. com.

The Postal Ser­vice has seen years of fi­nan­cial losses as an un­re­lent­ing drop in mail vol­ume and costs of its health care and pen­sion obli­ga­tions out­weighed strong gains in pack­age de­liv­er­ies.

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