Royal Mail will raise the price of its first-class stamps to £1.10, the postal service confirmed today.
From April 3, Britons will have to fork out an additional 15p for the stamps, with second-class also due to rise.
The price for second-class stamps will rise by 7p to 75p as the company tackles plummeting letter volumes.
Royal Mail executives said they made the decision with “careful consideration” after finding volumes had dropped by 25 percent during the pandemic.
Nick Landon, chief commercial officer at Royal Mail, said the company wants to keep prices “affordable” despite the changes.
He said: “We appreciate that many businesses and households are facing a challenging economic environment and we are committed to keeping our prices affordable.
“We have to carefully balance our pricing against a continued decline in letter volumes and the increasing costs of delivering letters six days a week to an ever-growing number of addresses across the country.”
Royal Mail is bound by the Universal Services Obligation, which ensures the service delivers and collects letters and parcels six days a week while keeping a uniform price tariff.
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