Royal Mail raises first class stamp price to 64p

First class stamps

The cost of a first class stamp will rise to 64p this week, taking the price increase to 100% over the past decade.

First class stamps prices are rising by 1p, while a second class stamp will rise by the same amount to 55p. The price of stamps for large letters weighing up to 100g will also rise by 1p, to 96p for those opting for first class postage.

A first class stamp cost 32p in April 2006, while a second class stamp has more than doubled in price since then from 23p. If a first class stamp had increased in line with RPI inflation, the cost would now be around 43p.

Royal Mail has previously said it had “carefully considered” the impact of price rises on customers and its own business, opting to apply the “smallest possible increase”.

It pointed out that the price of a first class stamp in the UK remains well below the European average of 78p, and less than the 64p average for second-class letters. It argued that the price rises were necessary to pay for the the universal service obligation, which delivers post across the country six days a week at flat rates.

However, the charity Citizens Advice has said that while the increase might seem modest, consumers will be disappointed that the rise is above inflation.

[Source:- Gurdian]