Martin Lewis’ latest money saving advice is to bulk buy £1 item before price spike

Martin Lewis has urged shoppers to stock up on a cheap and common item before they spike in price, reaching more than twice the sum people would pay a decade ago. But the Money Saving Expert has warned that buyers only have until October 2 before the price goes up.

The price to send a letter quickly via the Royal Mail is set to rise in a matter of weeks, by between 14 and 22 per cent for different sizes, MyLondon reports. This will push up the cost of sending any Christmas post at a time when everyone’s household budgets are facing an unprecedented squeeze.

First class stamps will increase in price by 14 per cent for standard sized letters on this date from £1.10 to £1.25. This is an increase of 14 per cent. Meanwhile, first class stamps for large letters will go from £1.60 to £1.95, an increase of 22 per cent.

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Thankfully, second class stamps for standard letters will be staying the same at 75p (though they did just go up in April). For large letters, it’ll go from £1.15 to £1.55, an increase of 35 per cent.

The cost of Royal Mail’s ‘Signed For’ and ‘Special Delivery Guaranteed’ services will also increase from the same date, as will its Parcelforce ‘Worldwide Next Day’ and ‘Two Day UK’ services.

Martin Lewis 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 £1.10, soon to be rising to £1.25 – in 2012 it was just 60p.

“So you may as well stock up now, even if it’s just for Christmas cards for the next few Christmases.”

Royal Mail says the price hike is due to the cost of living increases and the universal service obligation, which requires it to deliver letters to all UK addresses six days a week. The postal service said: “The cost of delivering an ever-decreasing number of letters to an ever-growing number of households six days a week is unsustainable.”

Check the full list of price rises here.