The cost of postage will decrease on Sunday, USPS officials announced this week.

The price reduction was mandated by the Postal Regulatory Commission and the decrease is expected to cause the USPS to lose some $2 billion in annual revenue.

The PRC granted an exigent surcharge beginning in January 2014 on mailing products and services totaling $4.6 billion to recover for the massive volume and revenue losses resulting from the Great Recession.

“Given our precarious financial condition and ongoing business needs, the price reduction required by the PRC exacerbates our losses,” said Megan J. Brennan, postmaster general and CEO. “This unfortunate decision heightens the importance of the review of our ratemaking system which our regulator is required to conduct later this year.”

The First-Class mail prices will be reduced to the following:

• Letters: 47 cents;

• Letters additional ounces: 21 cents;

• Letters to all international destinations: $1.15;

• Postcards: 34 cents.