The U.S. Postal Service is looking to raise the price of a stamp again.
The Postal Service announced Wednesday that it is seeking approval from the Postal Regulatory Commission to raise stamp prices by 3 cents, from 46 to 49 cents. The cost to mail a postcard would also increase, from 33 to 34 cents. If approved, the increases would take effect on Jan. 26.
In a letter sent to customers, Board of Governors Chairman Mickey Barnett said the Postal Service's "precarious financial condition" is the key reason for the requested increase. The hike is expected to generate an additional $2 billion in annual revenue.