Government Postal Delivery

Postal Service proposes increase in stamp prices

Postal Service proposes increase in stamp prices

WASHINGTON — Facing a “precarious financial condition” as fewer customers use its services, the United States Postal Service proposed another round of rate increases Wednesday to go into effect in January — its largest price hike since 2002.

The plan — which would raise the cost of first-class stamps for one-ounce letters to 49 cents from 46 cents, among other changes — is intended to generate an additional $2 billion in annual revenue for the Postal Service. The agency expects to lose about $6 billion in the current fiscal year.

Postage rates jumped one cent in January 2012 and again in January 2013, but those changes were tied to increases...