Royal Mail raises price of stamps again – despite failure to meet targets
The price of a first-class stamp increased by 10p to £1.80 from Tuesday.
This is despite Royal Mail’s persistent failure to meet delivery targets and growing concerns about service performance.
The cost of a second-class stamp also increased by 4p to 91p.
However, stamps purchased before the change will remain valid for use.
This marks the eighth increase in first-class stamps in six years, with prices more than doubling by 137 percent.
The price of second-class stamps increased sixfold during the same period.
This latest increase follows Royal Mail’s announcement in February that it had again missed delivery targets in the last quarter.
Royal Mail, which announced the decision in March, said the price change reflected the ongoing increase in the cost of delivery as letter volumes fall and the number of addresses increases.
Richard Travers, Royal Mail’s general manager of letters, said: “We always consider price changes very carefully, balancing affordability with the increasing cost of delivering mail.
“On average, adults in the UK spend just £6.50 a year on stamps, and 70 per cent fewer letters are being sent than 20 years ago.
“Meanwhile, the number of addresses we deliver to has increased from four million to 32 million across the UK.”
Royal Mail’s annual target to deliver first class mail on time was last achieved in 2019-20.
The firm, whose owner International Distribution Services (IDS) was bought by Czech billionaire Daniel Kretinsky’s EP Group for £3.6bn last June, repeated its call to “progress urgently” with reforms to the service.
Anne Pardoe, head of policy at Citizens Advice, previously said: “It’s been more than half a decade since the company met its delivery targets and people still face a gamble, with many unsure whether their important documents or letters, such as medical appointments, will arrive on time.
“Things risk getting worse when delivery day cuts and lowered performance targets are fully implemented.
“In this environment, it is not possible for Ofcom to survive these increases any longer.
“Higher prices must come with higher standards; increases should be based on Royal Mail’s performance on the doorstep.”
