Royal Mail is to increase the price of a First Class stamp to 76p and a Second Class stamp to 65p
- First Class stamp will jump 6p to 76p and Second Class will go up to 65p
- Company said price increases are ‘necessary’ to ensure sustainability of service
- Royal Mail said it is ‘operating in a challenging business environment’
The Royal Mail has said it will increase the price of first class and second class stamps by up to six pence.
The postal firm said the price of a first class stamp will jump 6p to 76p and the price of a second class stamp will rise 4p to 65p from March 23.
The company said the price increases are ‘necessary’ to ensure the sustainability of its universal service.
The price of a first class stamp will be increased by 6p to 76p and the price of a second class stamp will rise 4p to 65p, the Royal Mail said.
Stamp prices in the UK rate among the best value in Europe, the company added.
Royal Mail said it is ‘operating in a challenging business environment’ and is likely to be loss-making in the current financial year.
Stephen Agar, managing director of letters at Royal Mail said: ‘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.’
Last March, the price of a 1st Class stamp increased by 3p to 70p and a 2nd Class stamp by 3p to 61p.
Royal Mail said it had reviewed the changes ‘very carefully’ while seeking to minimise any impact on customers.
It said researched had found the European average for 1st Class letters weighing up to 100g is 99p, while the same figure for 2nd Class letters of the same weight is 77p.
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