Ron Parker

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Postal Service wants to raise stamp price by five cents

The U.S. Postal Service wants to raise the price of a first-class stamp by five cents to 55 cents, a 10 percent increase that would be the biggest since 1991. If approved by regulators, the increase would go into effect in January. The Postal Service has been mired in red ink for years as the strong increase in package deliveries has been outweighed by a continuing drop in mail volume in the digital age and its health care and pension obligations.