The U.S. Postal Service is hoping it can soon raise stamp prices by a penny or more, after reporting a quarterly loss of $562 million. It blames the loss in part on a forced reduction in stamp prices last year, along with continued erosion in first-class mail and expensive mandates for its retiree health care obligations.
The postal service notched double-digit growth in its package business, but that wasn't enough to offset losses in both first-class and junk mail.