WASHINGTON (AP) - (12/01/17) - Federal regulators are moving to give the U.S. Postal Service more freedom to raise stamp costs beyond the rate of inflation.
The Postal Regulatory Commission announced its decision Friday.
The commission's proposal would allow the beleaguered Postal Service to increase the price of a first-class stamp by an additional 2 percent above the rate of inflation to avoid bankruptcy and improve mail and package delivery. The current price is 49 cents, so the increase could mean an increase of up to a few cents each year, depending on rates of inflation.
The prospect of higher prices irks mail-order industry, which could pay millions more for sending items like prescription drugs and magazines and pass costs onto consumers.
The plan will go through a 90-day comment period before taking effect.
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