Annual postal stamp increase

By WEEK Producer

January 2, 2013 Updated Jan 3, 2013 at 2:34 PM CDT

PEORIA, Ill. -- Residents will soon see a small hike in the cost for postal stamps. Beginning January 27, the cost will jump one cent to 46 cents.

U.S. Postal Service spokesman Michael Clark says the rate hike is small but adds every little bit of extra revenue helps with efforts to enhance service.

"It's actually part of the Postal Enhancement Act of 2006 where we are bound by that federal law that we can only increase stamps by the rate of inflation based on the consumer price index for urban consumers," he said.

The postal service is also releasing a new stamp as part of the 150th anniversary of the Emancipation Proclamation.

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