UK stamp prices are set to rise yet again from 26th March 2018. These price changes seem to usually take place around this time, just before Easter. In April 2014, postage stamp prices were hiked up with the cost of a first class stamp rising to 62p. The latest price hike comes at a time when many UK families are already beleaguered with the rising cost of living, including energy price hikes, council tax increases and increases in the cost of rail fares.
Price rises above UK inflation rate
Normally, increases in the price of goods and services across the world go hand in hand with rising inflation. But, interestingly, the rate of UK inflation has fallen to 2.7% in February 2018, down from 3% in the previous month. So, inflation doesn’t seem to be the reason for this latest move. In fact, the new prices to be introduced from 26th March have pushed postage prices of first and second class stamps up by 3.1% and 3.4%, respectively. This is actually higher than the current rate of inflation in the country, which is surprising.
However, Royal Mail has issued a statement that says that they are indeed aware of the predicament of average families across the UK and that the decision was not taken lightly. While the company did not elaborate on why the current price rise bucks the rate of inflation, they simply said that it was required to ensure the sustainability of their service and that even at the higher prices, the company continues to deliver great value, compared to other nations in Europe.
Postage price increases over the years
We have looked back, at stamp price comparisons in order to understand what the prices have looked like historically over the years. This brings up some interesting revelations. Indeed, 20 years ago, the price of a UK first class stamp was 24p. When we compare the prices ten years prior to that, it was 12p. So, UK postage prices jumped up 100% in ten years. But then in the following ten years, it only went up from 24p to 28p. With the current price increases, a first class stamp for large letters will rise to more than a pound at 101p, while its second class equivalent will cost 79p. First and second class stamps will be priced at 67p and 58p, respectively.
How bakergoodchild can help
Ballooning postage costs isn’t great news for small and medium businesses. Here at bakergoodchild, we have many cost-effective and highly efficient mailing solutions to save you money. These range from direct mail, transactional mail and print, but also postage solutions.
We are fully Mailmark enabled and use 2D barcode technology to ensure that your business benefits from the best quality mailings at the cheapest possible rates. Call bakergoodchild on 0800 612 1972 or contact us online to discuss your business mailing requirements and we’re sure to work out the best solution that’s right for your budget and your business.
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