The price of a first class stamp is to increase to over a £1 following an inflation-busting increase. The Royal Mail has announced that, from April 3, the price of a first class stamp will go up by 15p.
It means a stamp will cost £1.10, up from 95p. The price of second class stamps will also rise by 7p, from 68p to 75p, reports The Mirror. The 16% increase is way above the 10.1% rate of inflation. And it comes after a 10% increase in the cost of stamps from 2022.
Royal Mail says the decision has been made after "careful consideration". It says letter volumes have dropped by 25% since the Covid-19 pandemic.
