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MoneySavingExpert founder Martin Lewis has urged people to stock up on stamps before a price hike. The ITV star has spoken out on his latest Money Show.
First class stamps are going up by 10p to 95p, and 2nd class stamps will now cost 68p, up by 2p, from April 4. “The key rule here is to stock up now on these class stamps i.e those that say first or second. In the past when prices went up I’d always say you could use them indefinitely but you can only use these until January 31, 2023,” Martin said.
“So buy this Christmas’ stamps now if you can do so.” Addressing the price rises, Nick Landon, chief commercial officer at Royal Mail said: “We understand that many companies and households are finding it hard in the current economic environment, and we will always keep our prices as affordable as possible.
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“Whilst the number of letters our postmen and women deliver has declined from around 20 billion a year to around seven billion since 2004/5, the number of addresses they have to deliver to has grown by around 3.5 million in the same period.
“We need to carefully balance our pricing against declining letter volumes and increasing costs of delivering to a growing number of addresses six days a week. As customer needs change and we see a greater shift from letters to parcels, it is vital that the universal service adapts to stay relevant and sustainable.
“These price changes are necessary to ensure we can continue to maintain and invest in the one-price-goes-anywhere universal service for future generations.”
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