In its largest price hike since 1975, Royal Mail will increase postage costs by the end of April, with prices for first-class stamps rising 30 percent, and second-class stamps going up 39 percent.
Starting April 30, first-class stamps for letters weighing up to 100 grams will increase from 46 pence to 60 pence, and second-class stamps will rise from 36 pence to 50 pence.
The rising postage is a reflection of today’s economic conditions. In 2002, a first-class stamp cost 27 pence and the second-class stamp cost 19 pence, but mail volume has declined 25 percent since 2006.
Ofcom—Royal Mail’s regulator—says it put much thought into the change before implementing the increase, but found the new prices to be necessary.
“Royal Mail made a loss of almost 1 billion pounds over the last four financial years because we were unable to charge the price the service truly costs to deliver,” Royal Mail reports.
Business contract customers will also see prices rise about 15 percent. These customers can expect their first-class postage to rise from 39 pence to 46 pence, and their second-class postage from 28 pence to 33 pence.
The scheduled postage changes are published on the Royal Mail website.
