U.S. Postal Service proposes price hikes to offset inflation

(CNN)-- First class stamps would cost three cents more and mailing a postcard would increase by four cents.

The agency is also looking to increase fees for P.O. box rentals, money orders, and insurance.

The governors of the U.S. Postal Service already approved these hikes and the postal regulatory commission will review the proposal.

If approved, the changes will take effect in January.