Royal Mail has confirmed the price of a standard first-class stamp will rise on October 2 from £1.10 to £1.25, an increase of 14 per cent
Martin Lewis has urged people who need first-class stamps to stock up ahead of a price rise next week. Royal Mail has confirmed the price of a standard first-class stamp will rise on October 2 from £1.10 to £1.25, which is an increase of 14 per cent.
Martin Lewis’ MoneySavingExpert.com website flagged the increase this week and told stamp users it is their “last chance” to stock up now, before prices go up. Martin said: “For years, every time stamps go up in price I've suggested people stock up and bulk-buy in advance, as provided the stamp doesn't have a price on it and instead just says the postage class, it's still valid after the hike."This has been an effective tactic, as a first-class letter stamp is now £1.
Nick Landon, Chief Commercial Officer at Royal Mail said: “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.
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