U.S. Postal Service raising price of stamps by 3 cents to recoup losses, keep up with inflation

The U.S. Postal Service is raising the price of stamps this weekend.

Beginning Sunday, stamps will increase by 3 cents from 46 to 49 cents.

The hike is the largest in consumer postage prices in more than a decade and is supposed to keep up with inflation and recoup losses incurred during the recession.

USPS reported a $5 billion loss in the latest fiscal year, less than recent years but in addition to years of losses.

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