Price of first and second class stamps to increase by 1p

The price of first and second class stamps is to increase by 1p each to 63p and 54p from March 30, the Royal Mail announced today.

A general view of first and second-class stamps. Credit: PA Wire

Sending a large letter will increase by 2p to 95p for first class and by 1p to 74p for second class.

Second-class medium parcels weighing up to 2kg will be priced at £4.89, which Royal Mail said represents a saving of up to £3.11.

The postal group said it had thought "carefully" about the impact on its customers before deciding to raise letter prices, adding that it recognised how the recent tough economic conditions had made it difficult for consumers and businesses.

Stamp prices in the UK were among the best value in Europe, it added.