The price of a stamp to go up one cent in January

Get ready to pay one cent more for a stamp starting next year.

The U.S. Postal Service Regulatory Commission ruled, Thursday, the agency can raise the price of one stamp to 47 cents to keep up with the cost of inflation.

The one cent increase will take affect January 26, 2014.

Prices could go up even higher as the Commission is considering a proposal from the cash-strapped Postal Service to raise money.

This will be the second year in a row the price of a first-class mail stamp is going up by one cent.