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The cost of stamps is set to increase by 22% in a week’s time, meaning standard first class stamps will cost £1.65, following an earlier price hike in October 2023
People have been warned they have a week to buy stamps before their prices increase by 30p.
The price of a standard first-class stamp will increase from £1.35 to £1.65 – up 22% from Monday, October 7. Prices will also be felt elsewhere as large first-class stamps will rise from £2.10 to £2.60, up 24%.
Now Martin Lewis ’ MSE has told people to stock up, should then have a need to send letters. In the weekly MoneySavingExpert.com newsletter, the MSE team shared a previous word of advice from Martin, who 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. So you may as well stock up now, even if it’s just for Christmas cards for the next few Christmases.”
It comes after the price of a standard first-class stamp rose from £1.10 to £1.25 in October 2023, then to £1.35 in April 2024. The price of some other Royal Mail delivery services including Signed For, Special Delivery Guaranteed and Tracked will also increase. There will be no change to the price of second-class stamps, which will remain at 85p for a standard second-class stamp, and £1.55 for a larger second-class stamp.
People who do stock up on stamps have been warned to be careful to avoid buying fakes. Always use reputable high street outlets and, where possible, hang on to your receipt.
Nick Landon, chief commercial officer at Royal Mail, said: “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 [delivered] on foot. We are proud to deliver the universal service, but the financial cost is significant.”
On 31 July 2023, Royal Mail scrapped everyday non-barcoded stamps for barcoded versions. People can no longer use these non-barcoded stamps, but you can still exchange them for new barcoded versions for free.
