Home Business NewsBusiness The price of stamps are set to rise

The price of stamps are set to rise

24th Feb 17 2:31 pm

Why will there be an increase?

Royal Mail has made the announcement that the price of both first class and second class stamps will rise by 1p, this will start from the 27 March.

Once this date comes along a first-class stamp will cost you 65p and second class will be 56p.

Royal Mail has said these changes had to be made so that it can maintain a universal service, it delivers letters across the UK for the same price.

A stamp for a large first class letter will now rise by 2p to 98p. A large second class letter will go up by 1p, costing a total of 76p.

The increases come due to the rise in the Consumer Prices Index (CPI), this rose by 1.8 per cent in January.

Royal Mail understands the difficulties these price rises may bring to companies and many households due to the current economic environment, it said it has reviewed its price changes very carefully.

It also said how UK stamps were good value for money as Europe pays more. A first-class stamp in Europe costs 87p and a second-class stamp costs 67p.

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