Stock up on First Class Stamps before Price Increase

Money-Saving Expert, the popular website founded by Martin Lewis, is issuing a warning to the public to stock up on first class stamps before prices increase on October 2. The current price of £1.10 will rise to £1.25 for standard sized letters, equating to a 14% increase for customers. Stamps for large letters will also see a significant increase, going from £1.60 to £1.95, a rise of 22%.

However, there is some good news for second class stamps. The price for standard sized letters will remain at 75p, while large letters will increase from £1.15 to £1.55, a 35% jump.

Martin Lewis advises individuals to take advantage of the current pricing and stock up on stamps, especially if they have long-term use in mind such as Christmas cards. Stamps that do not display a specific price but only the postage class will remain valid even after the price hike.

According to Royal Mail, the price increases are a result of rising costs of living and the universal service obligation. The universal service obligation requires Royal Mail to deliver letters to all UK addresses six days a week. The company has stated that delivering an increasingly smaller number of letters to a growing number of households on a regular basis has become unsustainable.

To avoid any potential cost increases, individuals are advised to purchase first class stamps before October 2. Additionally, the price hikes also extend to Royal Mail’s ‘Signed For’ and ‘Special Delivery Guaranteed’ services.

In light of these developments, it is essential for consumers to stay informed and prepare accordingly to avoid any unexpected financial burdens.

Sources:
– Money-Saving Expert
– Royal Mail