Royal Mail to hike first and second class stamps prices from next month

dailyrecord.co.uk:

The price of first and second class stamps will rise from next month, Royal Mail has confirmed. First class stamps will increased by 10p to 95p, while the price of second class stamps will go up by 2p to 68p.The new prices will come into force from April 4.

Royal Mail said that the increase in price comes amid a decline in the postage of letters, tied in with rising inflation. The numbers of letters being posted have fallen by more than 60 per cent since their peak in 2004/05.

And more recently, the letter volumes have fallen by 20 per cent compared to the start of the Covid pandemic. Nick Landon, chief commercial officer at Royal Mail said: “We understand that many companies and households are finding it hard in the current economic environment, and we will always keep our prices as affordable as possible.“Whilst the number of letters our postmen and women deliver has declined from around 20 billion a year to around seven billion since 2004/5, the number of addresses they have to deliver to has grown by around 3.5 million in the same period.“We need to carefully balance our pricing against declining letter volumes and increasing costs of delivering to a growing number of addresses six days a week.“As customer needs change and we see a greater shift from letters to parcels, it is vital that the universal service adapts to stay relevant and sustainable.“These price changes are necessary to ensure we can continue to maintain and invest in the one-price-goes-anywhere universal service for future generations.” First and second class containing the Queen’s head on them will be replaced by new ones that contain a barcode from next year.