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The price of first-class stamps in the UK has increased significantly, with Royal Mail implementing a 22% hike as of October 7, 2024. This marks the third price rise within a year, raising the cost of a standard first-class stamp from £1.35 to £1.65.
The price for large letters has also jumped by 24%, from £2.10 to £2.60. Royal Mail attributes these increases to the rising costs of delivering letters, despite a significant decline in letter volumes.
Nick Landon, Royal Mail’s chief commercial officer, explained that the costs associated with maintaining a nationwide delivery network have inevitably increased as letter volumes have dropped by two-thirds from their peak.
“A complex and extensive network is needed to get every letter and parcel across the country for a single price,” Landon told The Scotsman.
The decision to raise prices has drawn criticism, especially from charities that rely on postal services for fundraising through holiday greeting cards. Christine Ansell, head of Cards for Good Causes, expressed concern about the impact on charitable donations during the Christmas season.
“We are already aware that public donations have significantly decreased due to the ongoing cost of living crisis,” she told The Scotsman.
“Consequently, making it harder to send greeting cards affordably and promptly will likely deter shoppers from supporting us this Christmas”
.Despite these challenges, second-class stamp prices remain unchanged at 85p for standard letters. The increase coincides with regulatory scrutiny from Ofcom regarding Royal Mail’s service obligations and potential changes to delivery schedules
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