It means that stamp prices have more than doubled since 2012
The price of a first class stamp will jump by 15p from the start of October, Royal Mail has announced, but it has kept the price of second class stamps unchanged. The delivery company said that a first class stamp would rise in cost to £1.25 as the business was facing “increasing cost pressures” and a “challenging economic environment”.
It said that the price of a first class stamp is now the same as the median price in Europe, and at 75p a second class stamp is cheaper than the 94p European average. The UK is one of the most densely populated countries in Europe. “We understand the economic challenges that many of our customers are currently facing and have considered the price changes very carefully in light of the significant decline in letter volumes,” said Royal Mail chief commercial officer Nick Landon.
The company said “urgent reform” was needed to the service obligation. It said: “Royal Mail has been clear that the cost of delivering an ever-decreasing number of letters to an ever-growing number of households six days a week is unsustainable.”
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