USPS raising price of stamps this weekend

FRESNO, California

The U.S. Postal Service is raising the price of stamps by 3 cents, from 46 to 49 cents, beginning Sunday.

The hike is the largest increase in consumer postage prices in more than a decade.

The hike comes after the agency's regulator gave the green light back in December to keep up with inflation and recoup losses incurred during the great recession.

The Postal Service says it lost $5 billion in the last fiscal year.

KGO-TV San Francisco, CA contributed to this report.

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