Royal Mail Announces Fourth Stamp Price Increase in Two Years: First-Class Stamps to Reach £1.35
In the wake of ongoing challenges and mounting losses, Royal Mail has declared yet another increase in stamp and franking prices, marking the fourth hike in the past two years. Effective from April 2, the cost of a stamp for a first-class letter item will rise by 10p to £1.35, while second-class stamps will see an identical increase, reaching 85p. Large Letter and Parcel pricing is also being affected.
This decision follows Royal Mail’s previous warnings regarding the adverse effects of rising costs and diminishing demand for traditional letter deliveries. Royal Mail has faced a considerable decline in letter volumes, exacerbated by the increasing popularity of digital communication. In light of this, Royal Mail has claimed it has to adapt its pricing structure to reflect the evolving landscape of postal services.
Nick Landon, Chief Commercial Officer at Royal Mail, explained the rationale behind the decision, stating, “It is no longer sustainable to maintain a network built for 20 billion letters when we are now only delivering seven billion.” He highlighted the substantial reduction in letter volumes, which has forced postal workers to cover significantly longer distances to deliver the same number of letters, thereby escalating delivery costs per letter.
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