U.S. Postal Service to raise rates for 2012

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Washington, D.C.—The U.S. Postal Service will raise its postal rates for 2012 by about 2.1%, the maximum allowed based on the current rate of inflation. First-class rates for one-ounce mailings will be 45 cents, a penny increase. Letters to Canada or Mexico will be 85 cents, a rise of 5 cents; while other international mailings will be $1.05, up 7 cents. The postal rate increase for standard mail, used most often for commercial mailings, along with periodicals and parcels, will be about 2.1%. The Postal Service ended its 2011 fiscal year on Sept. 30. While figures for the year have not yet been released, USPS is expected to announce a net loss of about $9 billion.
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