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Money Saving Expert Martin Lewis is urging Brits to stock up on a common item ahead of a price increase in April. Despite the growing reliance on digital communication, stamps remain an essential item for many households, and Mr Lewis advises purchasing them before the impending price hike.
The cost of stamps is set to rise, with a standard first-class stamp increasing from £1.65 to £1.70, and a large first-class stamp jumping from £2.60 to £3.15, effective April 7. Meanwhile, a standard second-class stamp will rise from 85p to 87p, although the price of a large second-class stamp will remain unchanged at £1.55, according to The Mirror.
In addition to the stamp price increase, Royal Mail will also be introducing hikes on services such as “signed for” and “tracked” deliveries. However, Lewis suggests that bulk-buying stamps now can help consumers save money by purchasing them at the current lower rate.
He explained: “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 rise.”
Lewis noted that while the saving may not be substantial this time around, it’s still worth stocking up. He pointed out that the price of a first-class letter stamp has risen significantly over the years, from 60p in 2012 to the current £1.65, soon to be £1.70, reports the Express.
Royal Mail attributed the price increase to a decline in letter deliveries. Nick Landon, chief commercial officer at Royal Mail, noted the financial pressure behind recent changes, stating, “We always consider price changes very carefully but the cost of delivering mail continues to increase.”
He elaborated on the expenses incurred by the postal service, pointing out the logistically intensive operations: “A complex and extensive network of trucks, planes and 85,000 posties is needed to ensure we can deliver across the country for just 87p.”
In a move that indicates potential future alterations to the mail delivery schedule, Ofcom put forward a recommendation in January. The regulator suggested that Royal Mail might need to reduce second-class letter deliveries to every other weekday excluding Saturdays, to help safeguard the UK’s postal industry’s longevity.
