Business: Inflation Stamp

Postal rates go up and up

"If there is a villain in this story," said Postmaster General William F. Bolger last week, "the villain is inflation." But the victim of the tale that he told was the public. Starting next February, Americans are likely to be socked with a huge hike in postal rates, a proposed overall average of 28%. Pending approval by the independent Postal Rate Commission, the cost of a first-class stamp, 15¢ now, would go to 20¢. Since 1952, when a letter could be mailed for 3¢, the increase has totaled 567%,...

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