Royal Mail have announced a 2020 stamp price increase that will come into effect on the 23rd of March.
Via a statement published on the Royal Mail website and in a recent article from the Post Office Shop Blog it has been announced that the price of First Class and Second Class Stamps are set to rise this year, by 6p and 4p respectively.
This means that the price of a 1st Class Stamp will now be 76p instead of 70p, and a Second Class Stamp will cost 65p, rather than 61p.
Explaining how the Royal Mail is currently operating within a challenging business environment, the company state that they have “considered any pricing changes very carefully and in doing so have sought to minimize any impact on our customers.”
2020 Stamp Price Increase Required to Support and Maintain Service
Stephen Agar, the Managing Director of Letters at Royal Mail explains that this change has been made with the public’s best interests at mind but will be vital in order to support and help maintain the Universal Service.
“We are operating in a tough market at present, under the threat of making a loss by 2021.
These price increases will help us to maintain the quality of service that is expected by our customers, while supporting the Universal Service.”
Stamp Prices Provide Best Value Compared to Europe
Despite a 2020 stamp price increase going live on the 23rd of March, the Royal Mail’s research into the cost of post across Europe concludes that Royal Mail’s stamp prices are still amongst the best value in Europe when being compared to other postal operators.
Their findings indicate that the average price of a First Class Letter (0-100g) within Europe is £1.05, meaning that even after the 2020 stamp price increase, the cost of postage in the UK will still be lower overall.
Purchase Stamps Before the Increase at Post Office Shop
If you need to purchase Postage stamp booklets and self-adhesive sheets, you can find them underneath the Post Office Shop’s Stamps section.