Royal Mail to increase stamp prices from March
Posted: Mon Feb 29, 2016 1:14 pmRoyal Mail is set to raise the price of its stamps, it has been confirmed.
First class stamps will go up by 1p to 64p from 29 March, while a second class stamp will rise by the same amount to 55p.
The company, who privatised two years ago, said the price difference will reflect the cost of providing online and over-the-counter services.
Royal Mail also said they had "carefully considered” the impact of price rises on customers.
The company said: "We believe these changes are necessary to help ensure the sustainability of the universal postal service."
Royal Mail has ensured customers they have opted to apply the “smallest possible increase”, with the price of large letter stamps also rising by a penny.
The company made a £740million profit last year - but its parcel service is thought to be under increasing pressure.
This comes after Amazon set up a successful courier network.
Internet customers will be exempt from the charges, it has been confirmed, with the prices still way below the international average.
They've reduced the number of collections from post boxes so we're paying more money for a reduced service.
