The price of first class and second stamps is set to rise from the end of March 2020
Royal Mail has announced it will increase the price of first class and second class stamps.
First class stamps will rise 6p to 76p, almost five times January's annual rate of inflation.
Second class stamps will increase 4p to 65p, the maximum price that can be charged under Ofcom's price cap.
These new prices will take effect from 23 March 2020.
The increase comes less than a year after the Royal Mail increased the cost of first class class stamps by 3p to 70p and second class stamps by 3p to 61p.
Over the last decade, the cost of a first class stamp has increased 35p while second class stamps risen 33p.
The table below shows how much the cost of first class and second class stamps have risen since 2010.
|Date||1st class stamp||2nd class stamp|
Why are stamp prices rising?
Currently Royal Mail is operating in what it describes as a "challenging business environment."
It has ambitions of investing £1.8 billion into the postal service but predicts that it will make a loss in 2020-21.
Royal Mail say that it has considered the upcoming price increases "carefully" to try and "minimise" any impact on customers.
Stamp prices in the UK are among the best value in Europe compared to other postal operators, according to new findings from Royal Mail.
The figures show that the European average for first class letters (0-100g) is £1.05.
Stephen Agar, managing director of letters at Royal Mail says: “We are operating in a tough market at present, under the threat of making a loss by 2021.
These price increases will help us maintain the quality of service that is expected by our customers, while supporting the Universal Service.”
royal mail stamps increase
So the royal mail is working in a challenging environment so are your customers.You have ambitions of investing £1.8 billion we your customers
have ambitions about getting our mail before 1pm.You considered your price increases for how long 5 minutes,You Say the prices are the best value in Europe i for one don`t care about what other countries charge i live in this country.It is the same old excuse blah blah blah.
The muppets at the top of Royal Mail don’t have the imagination to understand that their regular ott postal-charge increases are killing letter writing, especially among the elderly, non-computer users. Add to that ignorant management of their workers who then strike in the Xmas period, then you have an escalating programme of self destruction of the business.
I recall that Royal Mail always relied on becoming profitable during the Xmas period: not this year thanks to the strikes!
You are quite right. More people will desert the Royal Mail and use email instead. As far as the "elderly" goes, many do use computers or smartphones. I do not know what age group you are calling "Elderly" but there are few who do not use technology these days. Most worked with computers during their working lives anyway so are more than competent with them. My friends & I send E-cards for every occasion now. I have used the postal services but sadly my letters have taken ages to get to their destination so I only use post when it is absolutely unavoidable. The loser is Royal Mail at the end of the day.
Get Your Facts Right !
I think you’ll find the strikes were called off actually
Stamp price increase
Royal Mail may find that their "challenging environment" becomes even more challenging as less people buy stamps, particularly 1st class ones. It seems that any large organisation who finds themselves in a "challenging environment" thinks the obvious way to get out of it is by increasing prices when the consumer knows it will get worse as customers stop buying the product. With email, phone and texting how important are stamps, Royal Mail might do better to reduce the price of its stamps to encourage customer to use them.
Royal Mail Hike!
Well done Royal Mail! You have inserted another nail in your coffin by driving up your postal charges. Couldn’t think of a better way to destroy the letter-writing business, not forgetting the reducing number of the public that have decided not to use your delivery service over Xmas due to appalling management. Time was when there were up to 3 collections and two deliveries a day at a fraction of what you are imposing on the public now, adjusting for cost-of-living index.
First class up about 9%, 2nd class up about 6%, way above price indexes of around 1.5% - 3%. Challenging times could be caused by annual over the top increases forcing customers to look for alternatives to using R.M. I agree with above, cut overheads, drop prices and get more users. Must be said that the strikes around 2007 did not help at a that time as it forced people to start looking, possibly prematurely, to email and online banking for communicating and sending/paying invoices. That was when I realised, finding alternatives, that I did not actually need R.M. for a lot of my business needs so severely cut back on buying stamps.