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Updated: July 6, 2010 2:30 p.m.

USPS announces 2-cent rate increase

WASHINGTON (AP) - The post office wants to increase the price of a stamp by 2 cents to 46 cents starting in January. The agency has been battered by massive losses and declining mail volume and faces a financial crisis. Postal officials announced a wide-ranging series of proposed price increases Tuesday, averaging about 5 percent, and covering first class, advertising mail, periodicals, packages and other services.

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