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30% rise in cost of stamps

The price of a first class stamp is to increase from 46p to 60p - an increase of 30%.

Second class stamps will go up from 36p to 50p - a 38% rise.

The changes come into force from April 30.

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Second-class stamps 'capped at 55p'

Ofcom said that, subject to the safeguards it is putting in place, Royal Mail will make decisions on the price of stamps, not the regulator. It said it had put a cap on the price of second-class stamps for standard letters (55p) to protect vulnerable consumers.

Ofcom's decisions are designed to safeguard the UK's postal service, ensuring it is sustainable, affordable and high quality, to the end of the decade and beyond. The measures ensure that Royal Mail's products remain affordable for vulnerable consumers and small businesses.

– Stuart McIntosh, group director of competition, ofcom

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