The price rise comes into effect next Monday (19 September).
It marks its first increase for the daily title in more than a year and comes as GNM moves to offset significant financial losses.
Guardian editor Alan Rusbridger will explain the reasoning behind the price increase in this Saturday’s issue of The Guardian.
The price hike means The Guardian will be 20p more expensive than its traditional quality rivals, The Times and The Daily Telegraph.
GNM is also lifting the cover price of the Saturday edition of The Guardian from £1.90 to £2.10, beginning this Saturday (17 September).
The Guardian’s latest published Audit Bureau of Circulations (ABC) headline figure was 272,112 in August. This was down around 30,000 on the year.
The paper's average monthly circulation is thought to be inflated by its Saturday issue, which is understood to have a circulation of more than 400,000.
The Guardian has led the way in reporting and breaking stories in one of the big news stories of the year – phone hacking.
GNM will be hoping that the move will net it hundreds of thousands of pounds in extra monthly cover-price revenue. However, the title could take a significant hit to its circulation.
It will also offer subscribers 38% off the cover price, in an effort to lock in long-term readers.
The move comes just weeks after GNM folded the standalone print edition of its Media Guardian supplement after 27 years, citing a shift in requirements of recruitment advertisers.
It also comes a month after GNM reported "another challenging year" resulting in operating losses of £38.3m.
In June, GNM outlined its plans to become a digital-first publisher, putting open journalism on the web at the heart of its strategy.
Chris Lawson, content sales and marketing director at GNM, said: "The Guardian is a high-quality product and we believe this is the right price point for our newspaper at this time.
"The price increase will enable us to continue to invest in the kind of ground-breaking investigative journalism that, in 2011, has seen us win Newspaper of the Year and drive increases in sales and readership."
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