Royal Mail Stamp Prices Increase By 14%
As of Tuesday this week, the price of a Royal Mail first-class stamp for a standard size letter has increased by 14%. Levi Winchester at The Mirror reported that the price has jumped from £1.10 to £1.25, which makes it the second time this year first-class stamp prices have risen.
Not only that but the prices of other stamps have also increased. A first-class stamp for large letters used to be £1.60, which has now gone up to £1.95, plus a second-class stamp for large letters was £1.15 and is now £1.55. In contrast, a second-class stamp for a standard letter has remained the same price at 75p.
You can see a full list of price changes on the Royal Mail website. As well as first and second-class prices, these also include any increases for the Signed For and Special Delivery Guarantee options.
Royal Mail claim these price increases are due to "increasing cost pressures, the challenging economic environment, and the lack of reform of the universal service obligation (USO)". The USO currently requires letters to be delivered to all UK address six days a week.
Nick Landon, chief commercial officer at Royal Mail stated: "We understand the economic challenges that many of our customers are currently facing and have considered the price changes very carefully in light of the significant decline in letter volumes. Letter volumes have reduced dramatically over recent years, down more than 60% from their peak in 2004/5 and 30% since the pandemic. It is vital that the Universal Service adapts to reflect this new reality."
Tom Church, co-founder of money-saving community LatestDeals.co.uk, said: "With a significant decrease in letter volumes, it's disappointing but perhaps not surprising to see this price jump. However this can only lead to even fewer people purchasing stamps."
Big jump in prices but email rules now I guess. A tip here though....if you've a bit of spare time then register with Spectos Mailagents. They monitor postal services in the UK. If you get chosen then they send you incentives of 12 first class stamps and 4 large first class stamps every month for receiving & posting letter & parcels ( occasionally). They give points out too which can be turned into vouchers such as Amazon. You also receive commemorative stamps occasionally. I use the stamps at Christmas mainly but you can sell them to agencies who give roughly 60% of their value as long as you send them in excellent condition.
