U.S. Postal Service proposes price hikes for 2011 - Reuters
The U.S Postal Service proposed on Tuesday to raise the price of first-class stamps to 46 cents as part of a package of increases to soften a nearly $7 billion deficit projected for the next fiscal year.
If approved by the Postal Regulatory Commission, the 2-cent increase would take effect Jan. 2, 2011. Postcards would cost 30 cents to mail, up from 28 cents.
The price hikes are part of a larger effort to ensure the Postal Service -- which delivers nearly half the world's mail -- remains solvent in the face of stiff private competition and slack demand.
It is also looking to cut Saturday service and restructure retiree benefits in the face of projected losses of more than $238 billion over the next decade.
The U.S Postal Service proposed on Tuesday to raise the price of first-class stamps to 46 cents as part of a package of increases to soften a nearly $7 billion deficit projected for the next fiscal year.
If approved by the Postal Regulatory Commission, the 2-cent increase would take effect Jan. 2, 2011. Postcards would cost 30 cents to mail, up from 28 cents.
The price hikes are part of a larger effort to ensure the Postal Service -- which delivers nearly half the world's mail -- remains solvent in the face of stiff private competition and slack demand.
It is also looking to cut Saturday service and restructure retiree benefits in the face of projected losses of more than $238 billion over the next decade.
