Royal Mail to hike first and second class stamps prices from next month

The value of first and second class stamps will rise from subsequent month, Royal Mail has confirmed.

Top notch stamps will elevated by 10p to 95p, whereas the value of second class stamps will go up by 2p to 68p.

The brand new costs will come into power from April 4.

Royal Mail mentioned that the rise in worth comes amid a decline within the postage of letters, tied in with rising inflation.

The numbers of letters being posted have fallen by greater than 60 per cent since their peak in 2004/05.

And extra lately, the letter volumes have fallen by 20 per cent in comparison with the beginning of the Covid pandemic.

Nick Landon, chief industrial officer at Royal Mail mentioned: “We perceive that many firms and households are discovering it exhausting within the present financial atmosphere, and we'll all the time maintain our costs as inexpensive as attainable.

“While the variety of letters our postmen and ladies ship has declined from round 20 billion a yr to round seven billion since 2004/5, the variety of addresses they need to ship to has grown by round 3.5 million in the identical interval.

Barcoded stamps will exchange the present ones subsequent yr (Picture: PA)

“We have to rigorously stability our pricing towards declining letter volumes and growing prices of delivering to a rising variety of addresses six days per week.

“As buyer wants change and we see a higher shift from letters to parcels, it's important that the common service adapts to remain related and sustainable.

“These worth modifications are vital to make sure we are able to proceed to keep up and spend money on the one-price-goes-anywhere common service for future generations.”

First and second class containing the Queen’s head on them shall be changed by new ones that comprise a barcode from subsequent yr.

Royal Mail hopes that the change shall be a significant shake up for the safety of parcels, because the barcodes containing further options designed to enhance the security of buyer items.

The brand new barcoded stamps shall be rolled out to retailers over the approaching weeks.

Scots might want to use their previous stamps up by January 31, 2023 - which is when the brand new barcoded ones come into full use.

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