Royal Mail announces "smallest possible increase" in the price of stamps.
The Royal Mail confirmed that the first and second class stamp costs will rise from 29th March.
The price of a first class stamp will increase by 1p to 64p, while the cost of a second class stamp will rise to 55p from 54p.
Large letter stamps will also see their prices rise by 1p.
[SPOTLIGHT]Royal Mail defended the move, saying that it had “carefully considered the impact on our customers” before decided to implement “the smallest possible increase” in stamp prices. It said: “We believe these changes are necessary to help ensure the sustainability of the Universal Postal Service.”
It also argued that the cost of stamps in the UK are among the best value in Europe – the European average for first class letters up to 100g is 78p, while for second class stamps it stands at 64p.
Stamps went up by a penny last year too, and are now at least double the price of a decade ago. In 2006 first class stamps cost 32p each, while second class stamps set you back just 23p.