Stamp prices set to soar First and second class stamp prices will increase by 14p from next month to record highs of 60p and 50p, the Royal Mail has announced, following a decision by regulator Ofcom to give the company freedom to set its own prices. Prices will rise from the current 46p and 36p from April 30, while the cost of posting large letters will increase from 75p to 90p for first class and 58p to 69p for second class. Royal Mail also announced that millions of people on low incomes will be able to buy up to 36 stamps for Christmas at the current price. Royal Mail chief executive Moya Greene said: "We know how hard it is for households and businesses when our economy is as tough as it is now. No-one likes to raise prices in the current economic climate but, regretfully, we have no option. That service is under threat from declining volume, e-substitution and ever increasing competition. Because of these pressures Royal Mail has lost £1 billion over the last four years; the sustainability of the service is now at risk. The new prices, showing increases of 30 per cent for first class and 39 per cent for second class, follow a huge reduction in the number of letters posted - down from 84 million a day six years ago to 59 million today.