Royal Mail hasn’t met an annual delivery target for five years, but consumers will pay 124 per cent more for a 1st class stamp, and 34 per cent more for a 2nd class stamp, than they did in 2020.

The price of a first-class stamp will go up by 5p, bringing the cost to £1.70, the postal service has confirmed. Similarly, the cost of a second-class stamp will rise by 2p, moving from 85p to 87p.

Stamp prices are set to rise again next month as "the cost of delivering mail continues to increase". Royal Mail has confirmed the cost of a First-Class stamp will rise by 5p to £1.70 from April 7, ...