Post office still seeking rate hike
Posted: 10/25/2010
WASHINGTON (AP) - The post office is trying again to get a rate increase.
The agency announced Friday that it is appealing the Postal Regulatory Commission's rejection of its requested increase.
The post office had asked for a 2-cent increase in January in the price of First Class stamps, which now cost 44 cents.
Officials say they need the rate increase because of losses caused by a drop in mail volume caused by the weak economy and a shift in communications and bill paying to the Internet.
The commission rejected the request on Sept. 30.
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