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Royal Mail to raise stamp prices next month as first class cost reaches £1.35

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dailyrecord.co.uk

Royal Mail is set to increase the price of their first and second class stamps yet again next month. This news marks the fourth time prices have increased in two years for the cost of a first class stamp, as 10p will be added onto the total - taking it from £1.25 to £1.35.Second class stamps will also go up by 10p, from 75p to 85p, reports the Mirror.

First class stamps went from 85p to 95p in April 2022 and then raised once again to £1.10 in April 2023. In October last year, the price raised again from £1.10 to £1.25 - and will rise once again in April 2024.

The company said prices will rise on April 2.Nick Landon - chief commercial officer for Royal Mail - said: "We always consider price changes very carefully but we face a situation where letter volumes have reduced dramatically over recent years while costs have increased."It is no longer sustainable to maintain a network built for 20 billion letters when we are now only delivering seven billion.

As a result of letter volume decline, our posties now have to walk more than three times as far to deliver the same number of letters as before, increasing the delivery costs per letter."If you do use a lot of stamps then you could avoid this increase straight away by stocking up on them before the price rises.

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