U.S. Postal Service raising price of stamps starting this weekend

WASHINGTON

The hike is the largest increase in consumer postage prices in more than a decade.

It will affect millions of people, even though fewer Americans now use the mail to pay bills and keep in touch.

The hike comes after the agency's regulator gave the green light back in December to keep up with inflation and recoup losses incurred during the great recession.

The agency said in November that it lost $5 billion in the latest fiscal year, which is far less than in recent years, but that's on top of years of losses.

The agency has exhausted a $15 billion loan from taxpayers to make up for shortfalls.

See It On TV | Report A Typo |  Send Tip |  Get Alerts | Send us photos
Follow @abc11 on Twitter  |  Become a fan on Facebook

Copyright © 2019 WTVD-TV. All Rights Reserved.