UK households warned to ‘stock up’ on stamps before end of September

UK households have been warned to stock up on first-class stamps in September – before a price hike in October. Royal Mail has declared a significant 30p hike in the price of a first class stamp, citing “urgent” financial challenges.

From October 7, the cost of a first class stamp will soar to £1.65, while second class stamps will hold steady at 85p, giving customers a month to purchase at the current rate, the Royal Mail has today (September 6) confirmed – with the change a month away.

It comes after Ofcom announced that Royal Mail might end Saturday deliveries for second class letters as part of a shake-ip. If the proposed changes go ahead, second class letters would not be delivered on Saturdays and would only arrive on alternate weekdays.

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“We update our prices at key points in the year. For announced upcoming price changes see the relevant section below,” Royal Mail says on its website. The Royal Mail said: “The minimum requirements of the universal service haven’t changed for over 20 years despite major changes to how people communicate.

“We have no certainty on regulatory reform and the rate of letter decline and ongoing losses means that Royal Mail has had to take the necessary steps within its power to address the very real and urgent financial sustainability challenge the universal service faces right now.”

If you are a personal customer, or sell regularly on marketplaces, you can continue to use two ways of paying for your parcels and letters postage from 7 October 2024. Prices for stamped parcels and letters, and those paid over the counter at a Post Office branch are found in the Our Prices guide. You can view or download a copy of this guide to our UK and International parcel and letter services, including Parcelforce Worldwide. Alternatively, you can pick up a copy from your local Post Office branch.

Nick Landon, Royal Mail’s chief commercial officer, commented: “We always consider price increases very carefully. However, when letter volumes have declined by two-thirds since their peak, the cost of delivering each letter inevitably increases.

“A complex and extensive network is needed to get every letter and parcel across the country for a single price – travelling on trucks, planes, ferries and in some cases drones before it reaches its final destination on foot.

“We are proud to deliver the universal service, but the financial cost is significant. The universal service must adapt to reflect changing customer preferences and increasing costs so that we can protect the one-price-goes anywhere service, now and in the future.”