Update: United States Postal Service to implement new postage rates
COLUMBIA S.C. (WOLO)- The United States Postal Service has increased its prices for stamps along with other services.
Americans will see a change in price for domestic mailing, shipping and international shipping.
The Price for select mailing service products have gone up 2.5 percent.
There is also a 5 cent increase in the price of a first class mail forever stamp from 50 cents to 55 cents.
The nickel increase is the largest percentage hike since 1991, when postage increased from 25 to 29 cents.
Last year the postal service lost close to $4 billion dollars reportedly from lower mail volume and pension and health care costs.
Officials say the increase will keep the postal service competitive while providing the agency with needed funds.
For a complete list of those rates click here.