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Postal Service seeks record price increase on stamps

Postal Service seeks record price increase on stamps (KOKH/FILE)

The U.S. Postal Service is asking for the biggest price increase on stamps in its history.

The USPS filed notice with the Postal Regulatory Commission today of price changes to take effect Jan. 27, 2019.

The USPS' board of governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue.

If favorably reviewed by the PRC, the new prices will include a 5-cent increase in the price of a First-Class Mail Forever stamp, from 50 cents to 55 cents.

"The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue," the USPS said in a press release. "The Postal Service has some of the lowest letter mail postage rates in the industrialized world and also continues to offer a great value in shipping."

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