Martin Lewis issues ‘stock up now’ warning over £1.10 item you should buy before next week

Royal Mail has confirmed the price of a standard first-class stamp will rise on October 2 from £1.10 to £1.25, an increase of 14% – but Martin Lewis is urging people to stock with the lower price now

Martin Lewis has urged anyone who use first-class stamps to stock up before next week, when prices are set to rise.

Royal Mail has confirmed the price of a standard first-class stamp will rise on October 2 from £1.10 to £1.25, an increase of 14%. A first-class stamp for large letters will go up from £1.60 to £1.95, and a second-class stamp for large letters will increase from £1.15 to £1.55.

It is the second time first-class stamps have gone up this year. Martin Lewis’ MoneySavingExpert.com website flagged the increase this week, and told stamp users it is their “last chance” to stock up now, before prices go up.

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 at their current price of 75p. Royal Mail has a full list of price changes – which also includes increases to “Signed For” and “Special Delivery Guarantee” services – on its website.

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.”

It comes after Royal Mail replaced traditional stamps with ones that feature barcodes – these enable to sender to scan the parcel and watch a video online. As of August 1, a letter or large letter posted with a non-barcode stamp will be charged a fee of £1.10.

Those receiving mail sent using non-barcoded stamps will be given a “Fee to Pay”‘ card telling them they must pay the surcharge. The only stamps you can continue to use are “special stamps” issued to commemorate anniversaries and events, as well as Christmas stamps.

If you still have some old stamps, you can exchange them through the Royal Mail “Swap Out” scheme. To do this, you’ll need to 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.