The Postal Service Board of Governors today gave final approval to the rate accord and set June 30 as the date the increase would take effect.
The approval had been expected and will raise the cost of a first-class stamp by 3 cents to 37 cents. For marketers the raise will be about 8.7% and for media companies 10%.
Postmaster General John Potter last week said he doesn't want to raise stamp prices again until 2004, but today the Postal Service's chief financial officer, Richard J.
Mr. Strasser also predicted continuing volume losses in the current quarter.