The single-piece additional ounce price will be reduced to 15 cents, so a 2-ounce stamped letter, such as a typical wedding invitation, will cost less to mail, decreasing from 71 cents to 70 cents.

If favorably reviewed by the PRC, the new prices will include a 5-cent increase in the price of a First-Class Mail Forever stamp, from 50 cents to 55 cents. The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue. Although Mailing Services price increases are based on the Consumer Price Index (CPI), Shipping Services prices are primarily adjusted according to market conditions.

For example, Priority Mail Express will increase 3.9 percent and Priority Mail will increase 5.9 percent. Shipping Services price increases vary by product. The proposed prices, approved by the Governors of the Postal Service, would raise Mailing Services product prices approximately 2.5 percent. While the service has been handling more package delivery, the loss in mail delivery has been more dramatic – and mail is the service's main source of revenue, Postmaster General and CEO Megan Brennan said earlier this year of the financial loss.WASHINGTON - The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes to take effect Jan. The new price plan comes at a time when USPS is struggling with sales, as mail has been replaced with electronic communication. The Postal Regulatory Commission must approve the changes before they could go into effect. For example, a medium flat rate box that now goes for $13.65 would increase to $14.35. Priority Mail flat rate prices could also increase by an average of 5.9 percent. So, a 2-ounce stamped letter would decrease from 71 cents to 70 cents, according to a statement. Before recalculating the cost of sending those wedding invitations, USPS said the change would also reduce the additional ounce price of letters. The USPS board of governors requested a 5 cent increase to the forever stamp, up to 55 cents. Postal Service is seeking to increase the price of its first-class mail forever stamp in the biggest price hike since 1991. Watch Video: Forever stamps get more expensive this weekend

Small flat rate box cost 2018