USPS price hike for stamps, other services

(CNN/KWCH) The United States Postal Service is raising prices on stamps and services.

READ MORE: Stock up on stamps | The biggest price hike ever is coming

Starting today (Jan.27), a first-class one-ounce mail letter will go up to 55 cents. Forever stamps are also jumping to 55 cents.

The nickel increase is the largest percentage hike since 1991, when postage increased from 25 to 29 cents.

Priority mail prices will also jump 5.9 percent, making a small box that previously cost $7.20 to rise to $7.90. The postal service lost nearly four billion dollars in 2018, reportedly from lower mail volume and pension and health care costs.