Martin Lewis issues ‘stock up now’ four-day warning before major price hike

Anyone who uses stamps is being warned to stock up before a price hike next week.

Money Saving Expert Martin Lewis is urging people to purchase stamps at their current price before an increase that is set to take place on Monday October 2, with the cost of each first-class stamp rising from £1.10 to £1.25.

This is the second increase to first class stamps this year, with Martin Lewis’ MoneySavingExpert.com flagging the increase to readers this week. This site explained that the coming days provide the “last chance” to stock up before prices go up, reports the Mirror.

This increase represents a rise of 14 per cent, with first class stamps for large letters to go up in price – from £1.60 to £1.95 from the same date. October 2 will also see the cost of second class stamps for large letters rise from £1.15 to £1.55.

Speaking of the price hike, Martin 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.

“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.”

Standard second class stamps will remain priced at the current cost of 75p. A full list of price changes has been issued by Royal Mail, with the increases also impacting “Signed For” and “Special Delivery Guarantee” services. You can view all the changes on the Royal Mail website here.

Nick Landon, Chief Commercial Officer at Royal Mail 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.”

The price increases follow a change made to traditional stamps, with Royal Mail replacing these with stamps featuring barcodes. The barcodes allow senders to scan the parcel to allow the item to be tracked.

From August 1, a letter or large letter with an older, non-barcoded stamp, will be charged a fee of £1.10. Those receiving mail without the new stamps will be given a “Fee to Pay” card telling them a surcharge is outstanding.

“Special stamps”, such as those used to commemorate anniversaries or events like Christmas, can still be used. However, any other old stands should be swapped out using the Royal Mail “Swap Out” scheme.

You can download a “Swap Out” form on the Royal Mail website, call up Royal Mail on 03457 740740, or pick up a form from a local delivery office or Post Office.

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