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Martin Lewis’ popular website, Money Saving Expert, has urged people to stock up on a common item, currently worth 75p, before they rise in price.
By October 2, first class stamps will increase in price by 14 per cent, from £1.10 to at least £1.25 – and first class stamps for large letters will increase from £1.60 to £1.95 – a rise of 22 per cent.
MyLondon reports second class stamps for standard letters are set to stay the same, priced at 75p – but they will increase in price in April next year. Second class stamps for large letters will increase in price from £1.15 to £1.55 – an increase of 35 per cent.
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The cost of Royal Mail’s ‘Signed For’ and ‘Special Delivery Guaranteed’ services will also rise from October 2 as well, as will the Parcelforce ‘Worldwide Next Day’ and ‘Two Day UK’ services.
The MoneySavingExpert.com founder 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.”
Royal Mail has said that this price hike is due to the cost of living crisis, and the universal service obligation – which requires the company to deliver letters to all addresses in the UK for six out of seven days in the week.
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The postal service said: “The cost of delivering an ever-decreasing number of letters to an ever-growing number of households six days a week is unsustainable.”
You can check out all the price rises on the Royal Mail website.
