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Martin Lewis has warned shoppers they have just days left to stock up on a household staple before a price hike.
First class stamps are set to rise in price by 14%, on Monday, October 2. The stamps will go up 15p from £1.10 to £1.25, however, if you stock up on or before October 1, you will beat the price hike.
Second class stamps will remain at their current price of 75p. Martin Lewis, founder of MoneySavingExpert.com, 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.
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“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.”
On July 31, Royal Mail discontinued regular non-barcoded stamps that featured Queen Elizabeth with barcoded versions. If people still have any remaining old stamps, they can exchange them with new barcoded versions.
Royal Mail chief commercial officer Nick Landon 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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