Royal Mail to Raise First-Class Stamp Prices to £1.35 Amid Declining Letter Volumes

The price increase, effective April 2, is part of efforts to address financial losses and operational challenges.

Royal Mail announces a 10p increase in the price of first-class stamps to £1.35, effective from April 2, marking the fourth price rise in two years.
The price hike is attributed to a significant decline in letter volumes, from 20 billion letters annually to just 7 billion, alongside rising operational costs.
Royal Mail, which reported a £419 million loss last year, argues the increase is necessary to sustain its network, now oversized for the reduced volume of letters.
Ofcom, the industry regulator, has proposed changes to the Universal Service Obligation, suggesting options like reducing letter delivery days to save costs.
Despite the increases, Royal Mail maintains that its stamp prices remain below the European average, with first and second-class stamps costing less than £1.66 and £1.26 respectively.