The price of a first class stamp is to rise above £1
Business reporterFrom 3 April, first class stamps will increase by 15p to £1.10p, while second class stamps will rise by 7p to 75p.
It added the rises had been subject to "careful consideration" with letter volumes down 25% since the pandemic. "We appreciate that many businesses and households are facing a challenging economic environment and we are committed to keeping our prices affordable," said Nick Landon, chief commercial officer at Royal Mail.
Royal Mail said it remained "committed" to the Universal Service which means it is required to deliver letters at a uniform price to UK addresses six days a week.
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