An Post is to increase its postage rates from 1 July, with the price of a standard domestic stamp rising to 70c, up 2c on the current rate.

The price of a stamp for a standard international letter will also increase, rising 5c to €1.05.

The price of larger and heavier will also be increased, with the changes detailed by An Post on its updated guide to postage rates.

An Post last raised postage rates in July 2014, when the price of a stamp for a standard domestic letter rose from 60c to 68c, while the price of a stamp for the same letter being sent internationally rose from 90c to €1.

However An Post has said its postage rates remain below the average for EU15 countries, which stands at 77c at present, with the firm saying that discounts are also available for business users.

As part of this the rate charged per standard domestic post using meter – or franking machine – rates will remain at 66c per letter.

An Post said the price rises were necessary to “stem the unsustainable financial losses” arising from its Universal Service Obligation, which requires it to charge the same rate for delivery and collection across the country.