Royal Mail understands that many companies and households are finding it hard in the current economic environment.
As a result, we have considered any pricing changes very carefully and in doing so have sought to minimise any impact on our customers.
From 23 March, the price of a 1st Class stamp will increase by 6p to 76p and the price of a 2nd Class stamp will increase by 4p to 65p. These changes are necessary to help ensure the sustainability of the one-price-goes-anywhere Universal Service.
Royal Mail is operating in a challenging business environment. The likelihood has increased that Royal Mail in the UK will be loss making in 2020-21. We want to invest £1.8 billion in the UK to turnaround, grow and sustain the universal service. The UK has one of the highest quality of service specifications of any major European country.
Royal Mail’s stamp prices are amongst the best value in Europe compared to other postal operators. Royal Mail research shows that the European average for 1st Class letters (0-100g) is £1.05.
Stephen Agar, Managing Director of Letters at Royal Mail said: “We are operating in a tough market at present, under the threat of making a loss by 2021. These price increases will help us maintain the quality of service that is expected by our customers, while supporting the Universal Service.”