Stamp prices go up to almost £1 as cost of living crisis continues
STAMP prices will rise to almost £1 as the cost of living crisis continues to hit.
The Royal Mail announced today that first class stamps are set to jump in price by 10p to 95p.
In comparison, one first class stamp cost just 76p in 2020.
Second class stamps are also increasing to 68p, a rise of 2p, from April 4.
Royal Mail said it is hiking the price of postage due to the decline in the number of people sending letters.
The number of letters being posted has dropped 60% since 2005 and around 20% since the start of the pandemic.
It also blamed rising inflation for the increase.
Brits are facing a cost of living crisis, with food and energy bill prices also on the rise.
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Royal Mail said it is a necessary move to meet its Universal Service obligation.
That means the postal service has to deliver letters to 31million home and business addresses six days a week at one, universal price.
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."
Royal Mail announced last month that it is moving to a new barcode system, which doesn't include the use of current stamps.
It's in an attempt to make letter sending more secure, but it doesn't make post any easier or cheaper for customers to track.
From January 31, 2023, you won't be able to use the current style of stamps that feature an image of the Queen's head.
Instead, only the new style stamps complete with their new barcodes will be valid, and you'll face a surcharge trying to use anything otherwise.
However, MoneySavingExpert reported that the postal service has , and old Christmas stamps will still be valid after that date.
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