Postal Service Proposes Price Increase

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The U.S. Postal Service proposed raising the price of a first-class stamp by 10% to 55 cents and increasing rates on a popular option used by Amazon.com Inc. and other shippers by more than 12% as the agency seeks to shore up its finances, the Wall Street Journal reports.

The increase on first-class stamps would be the largest on a percentage basis in more than three decades.

The Postal Service said the increase across all mailing products, which include stamps for letters and postcards, totals about 2.5%, because it cut other prices, including what it charges for each additional ounce. The Postal Service has come under scrutiny from President Trump, who has chastised the agency as Amazon’s “delivery boy.”

{Matzav.com}

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