Post office seeks two cent stamp hike

WASHINGTON (AP) - The post office wants to increase the price of a stamp by 2 cents to 46 cents.

The agency has been battered by massive losses and declining mail volume and faces a financial crisis.

Postal officials announced a wide-ranging series of proposed price increases Tuesday, averaging about 5 percent, and covering first class, advertising mail, periodicals, packages and other services.

The request now goes to the independent Postal Rate Commission, which has 90 days to respond.

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