First-class stamps will cost almost £1 as letter use falls | News

The price of a first-class stamp is to rise by 10p to nearly a pound, the Royal Mail has announced.

They will cost 95p from April 4. It will mean their price has risen by 19p in two years. Second-class stamps will also increase by 2p to 68p.

Royal Mail blamed rising inflation and a long-term decline in letter usage. Letter volumes have dropped by more than 60 per cent since their peak in 2004-5 and by about 20 per cent since the start of the pandemic.

In November Royal Mail reported its best ever spring and summer profits, partly thanks to a rise in online shopping.

Nick Landon, chief commercial officer at the company, said: “We understand that many companies and households are