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The cost of living in the UK has increased dramatically this year, with energy, food, and petrol prices all skyrocketing. This increase in prices isn’t just limited to these areas as well as even postage stamps are now are seeing their cost go up, with first and second class stamps both getting a raised price.
From today (Monday March 4) Royal Mail First Class stamps will increase in price by 10p, or 12 percent, to 95p each, whilst Second Class stamps will get a smaller increase of 2p. The Royal Mail says the increase can be put down to a smaller number of people sending letters by post and an increase in addresses the delivery service need to serve.
Commenting on the figures, Royal Mail chief commercial officer Nick Landon stated: “While the number of letters our postmen and women deliver has declined from around 20 billion a year to around seven billion since 2004/05, the number of addresses they have to deliver to has grown by around 3.5 million in the same period.”
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“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 prices changes are necessary to ensure we can continue to maintain and invest in the one-price-goes-anywhere Universal Service for future generations.”
(Image: PA)
The Royal Mail also introduced another change in the last week as they revealed their brand new barcoded stamps on March 31. These are expected to replace all existing stamps by the end of January next year. This means any old stamps you have will need to be used by then or they will incur extra costs when you post something with them.
The courier has introduced a ‘swap out’ scheme though, set to run until March 31 2023, where you can trade out any old stamps you have for the new versions cost free. From January 31, 2023, only barcoded, Christmas and collectable stamps can be used to send post.
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