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Royal Mail has announced the price of stamps will rise again from April 7.
The cost of a first class stamp will increase by 10p to £1.80, while a second class stamp will go up by 4p to 91p. The price of a first class stamp was just 64p in 2016 – meaning it will have increased by 181% in the past ten years.
Royal Mail said the increases are down to the rising cost of delivery as letter volumes fell and the number of addresses increased.
But it comes as the postal service comes under increasing scrutiny for not meeting its delivery targets. The last time Royal Mail met its annual target for delivering first-class post on time was in 2019-20.
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If you regularly post letters, you can save money by bulk-buying stamps now ahead of the price rise. This works if the stamp doesn’t have a price on it and just says the postage class.
Royal Mail’s managing director of letters, Richard Travers, said: “We always consider price changes very carefully, balancing affordability with the rising cost of delivering mail.
“On average, UK adults now spend just £6.50 each year on stamps and there are 70% fewer letters sent than 20 years ago,” he added.
“In the meantime, the number of addresses we deliver to has increased by four million to 32 million addresses across the UK.”
Anne Pardoe, head of policy at Citizens Advice, said: “More than half-a-decade has gone by since the company met its delivery targets and people still face a gamble, with many uncertain if their important documents or letters like medical appointments will arrive on time.
“Things only risk getting worse when cuts to delivery days and reduced performance targets come into full effect. Against this backdrop, Ofcom simply cannot wave through these increases any longer.
“Higher prices must come with higher standards – increases should be tied to Royal Mail’s performance on the doorstep.”
Royal Mail was last year given the green light by Ofcom to no longer deliver second class post on Saturdays. Royal Mail will also only deliver second class post on alternate weekdays, instead of six days a week, under the shake-up.
This is being piloted in around 35 delivery offices. But despite the reduced service, Royal Mail will still have a target for second class letters to arrive within three working days.
Royal Mail was bought last June for £3.6billion by Czech billionaire Daniel Kretinsky’s EP Group.
