Royal Mail has announced that its first-class stamps will cost over £1 each for the first time.

The postal service confirmed that it is putting up the price of its first-class stamps by 15p - meaning it will now cost Brits £1.10 each from April 3.

The increases are reportedly needed to ensure that the universal service, which means any letter delivery costs the same irrespective of the distance “remains sustainable”, Royal Mail has said.

The delivery giant reached the decision after witnessing a 25% decline in the number of letters being sent since the pandemic.

The Northern Echo: Royal Mail remains committed to its 'universal service'. (PA)Royal Mail remains committed to its 'universal service'. (PA) (Image: PA)

It also noted the higher cost inflation was also a factor in the decision. 

How much will Royal Mail stamps cost after the price increase?

From April 3, the cost of a first-class stamp will be £1.10.

Meanwhile, the price of a second-class stamp by 7p to 75p.

Royal Mail insisted on Friday ( March 3) that it remains committed to the universal service but said that costs are increasing as “customer behaviours change".

It comes after the company reported last year that it expected to fall to an annual loss of up to £450 million as it outlined plans for up to 6,000 redundancies.

The delivery service has also asked the Government to reduce its obligation to deliver letters to Brits six-days-a-week to five days a week.

The Northern Echo: The price of first and second class stamps will increase from April 3. (PA)The price of first and second class stamps will increase from April 3. (PA) (Image: PA)

Nick Landon, chief commercial officer at Royal Mail said: “We appreciate that many businesses and households are facing a challenging economic environment and we are committed to keeping our prices affordable.

“Letters have declined by 25% compared to pre-pandemic.

“We have to carefully balance our pricing against a continued decline in letter volumes and the increasing costs of delivering letters six days a week to an ever-growing number of addresses across the country.

“We need to make these price changes to ensure we can continue to maintain and invest in the one-price-goes-anywhere universal service for years to come.”