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The Royal Mail has announced that the price of a first class stamp will increase by 10p to 95p, while second class stamps will increase by 2p to 68p, reported by WalesOnline
The postal service said there has been a long-term decline in letter usage, combined with rising inflation, with letter volumes falling more than 60 per cent since their peak and by around 20 per cent since the start of the pandemic.
The new prices are scheduled to come into effect on April 4.
Read more: Cost of Living news
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.
“Whilst 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.
“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.”
It is the latest price to affect families as the cost of living crisis continues, with the price of petrol at the pump rising to record highs and huge increases to gas and electricity bills.
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