The move will make The Times the UK's cheapest broadsheet.
The Independent is to raise its cover price by 20p to £1.20 – bringing it line with broadsheet competitors The Guardian and The Daily Telegraph.
The price hike, which takes place next Monday, means News International’s The Times will become the UK’s cheapest broadsheet at £1.
In an editorial this morning, Independent editor Chris Blackhurst said: “For almost four years, The Independent has not raised its price. During that period, we have faced intense financial pressures. Inflation has been high and the recession severe and prolonged. Newsprint, transportation and other production costs continue to rise, seemingly inexorably.