Postal Service Asks for Emergency Price Increase

The U.S. Postal Service proposed on Wednesday to increase its rates more than the standard, inflation-based cap that typically constrains price bumps, citing its financial condition and the uncertainty of legislative action to justify the emergency measure. Known as an "exigent rate increase," the Postal Service Board of Governors must demonstrate to its regulatory body — the Postal Regulatory Commission — "either extraordinary or exceptional circumstances" that require higher rates.