Another stamp price hike may be on the way

The board the runs the U.S. Postal Service has revealed that they are looking at the option of raising stamp prices again.

Mickey Barnett is the chief of the U.S. Postal Service board, and he tells CNN Money that the board is "loathe to pursue" another rate increase, but that they have been forced to do so ever since they were forced to shelve plans to halt Saturday mail delivery earlier this year.

Barnett says the USPS lost $1.3 billion dollars from January 1^st to March 30^th this year as the volume of first-class mail continued to drop.

One bright spot: Revenue from package delivery is up 9.6% when compared to last year.