Related Articles
Martin Lewis has sent a warning urging people to stock up on an everyday item before this weekend’s price hike. On Monday (October 2) first class stamps will cost you 14 per cent more.
They are due to rise 15p from £1.10 to £1.25, according to the Liverpool Echo. But if you are quick you can stock up on them before the price rise kicks in.
This advice is being championed by Martin Lewis, the MoneySaving expert, 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.”
READ MORE:
He added: “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.”
The price rise is not impacting second class stamps. They will remain at their current price of 75p.
Royal Mail chief commercial officer Nick Landon 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.”
At the end of July, Royal Mail discontinued regular non-barcoded stamps that featured Queen Elizabeth II with barcoded versions. It has been said that people still have any remaining old stamps, they can exchange them with new barcoded versions.
