WASHINGTON (AP) - The cash-strapped U.S. Postal Service is
raising rates for its more profitable express mail and priority
mail shipping next year, part of its efforts to stave off
bankruptcy.
The new prices take effect Jan. 22 and include the introduction
of a new flat rate of $39.95 for express mail boxes, with separate
increases for letters. Previously, prices were $13.25 or higher
based on package weight and distance.
The Post Office said the rate hikes still make its shipping the
best value compared to private companies such as UPS and FedEx.
The new prices amount to a roughly 5 percent increase. They are
in addition to a previously announced 1-cent hike in first-class
mail to 45 cents. The independent Postal Regulatory Commission will review the proposed hikes before they take effect.

(Copyright 2011 by The Associated Press. All Rights Reserved.)