Anyone who regularly posts letters has been warned that Royal Mail is hiking the cost of stamps from next week. Household finance guru Martin Lewis' website MoneySavingExpert advises people to stock up on stamps by this weekend before prices go up from Monday, April 3.
Standard stamp prices will jump to £1.10 for first-class - a 16% rise from 95p - and from 68p to 75p for second-class. For large letters, first class stamps are increasing to £1.60 from £1.45 and second-class will cost an extra 10p, rising to £1.15.
The increase have been blamed on a "25% drop in letter volumes since the pandemic, increasing costs and the highest inflation rates for a generation" by Royal Mail. It says the increases will help ensure that the 'universal service', which means any letter delivery costs the same regardless of the distance, "remains sustainable".
