Royal Mail is set to increase the price of first- and second-class stamps for the sixth time in just over three years, citing rising operational costs.
From 7 April, the cost of a first-class stamp will rise by 5p to £1.70, while second-class stamps will increase by 2p to 87p. The postal service, which delivers to 32 million UK addresses, attributes the hikes to growing expenses in maintaining its nationwide delivery network.
Nick Landon, Royal Mail’s chief commercial officer, defended the move, stating that despite careful consideration, “the cost of delivering mail continues to increase.”
The number of letters sent annually has plummeted from 20 billion a decade ago to 6.7 billion today, with projections suggesting a further drop to 4 billion within four years. Meanwhile, the number of delivery addresses has grown by 4 million, increasing overall costs.
In December, Royal Mail was fined over £10 million by Ofcom for failing to meet delivery targets, with more than a quarter of first-class mail arriving late. The company has been pushing to reduce delivery frequency, and Ofcom has provisionally approved plans to cut second-class letter deliveries to alternate weekdays and end Saturday deliveries. A final decision is expected in the summer.
Royal Mail’s parent company, International Distribution Services, is also undergoing major changes, with a £3.57 billion acquisition by Czech billionaire Daniel Křetínský’s EP Group currently under regulatory review.
As Royal Mail pushes for operational reforms, customers face yet another price increase, raising concerns about the affordability and reliability of the UK’s postal service.
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