Price of Royal Mail first and second class stamps set to rise
The postal firm said the price of a first class stamp will jump 6p to 76p and the price of a second class stamp will rise 4p to 65p from March 23.
The company said the price increases are "necessary" to ensure the sustainability of its universal service.
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Hide AdRoyal Mail said it is "operating in a challenging business environment" and is likely to be loss-making in the current financial year.
Stephen Agar, managing director of letters at Royal Mail said: "We are operating in a tough market at present, under the threat of making a loss by 2021.
"These price increases will help us maintain the quality of service that is expected by our customers, while supporting the universal service."
Royal Mail recently released a collection of stamps to celebrate the James Bond films and mark the 25th Bond movie, No Time To Die.