Money-saving guru Martin Lewis has warned Brits have just days to ‘stock up’ on stamps after Royal Mail controversially confirmed its sixth price hike in the last three years
Brits are being urged to act now to avoid a looming price hike, amid a series of ‘Awful April’ shakeups. Council tax, energy bills, the TV Licence and even road tax will all increase this month, as cash-strapped Brits continue to struggle during the cost of living crisis.
To add fuel to the fire, Royal Mail confirmed the cost of stamps is also rising – for the sixth time in three years. Despite being fined £10.5 million by Ofcom last year for missing its postal delivery targets, Nick Landon, chief commercial officer at Royal Mail, argued the up-charge was necessary as the “cost of delivering mail continues to increase.”
“A complex and extensive network of trucks, planes and 85,000 posties is needed to ensure we can deliver across the country for just 87p,” the boss added. As previously reported, from April 7, the cost of a first-class stamp will increase by 5p to £1.70, while second-class stamps will also jump 2p to 87p.
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Back in 2020, a first-class stamp will have set you back just 76p, meaning they’ve more than doubled in prices in the last half a decade. Alongside the stamp hike, Royal Mail will also be charging more for deliveries of first-class large letters up to 100g from £2.60 to £3.15.
The postal service is also charging more to deliver small parcels up to 2kg, which will jump from £4.79 to £4.99 for first class and from £3.75 to £3.90 for second class. The cost of signed-for deliveries will also be impacted, with first class signed-for stamps rising by 25p, going from £3.35 to £3.60, while second class signed-for delivery is rising by 22p, going from £2.55 to £2.77.
“For years, every time stamps go up in price I’ve suggested people stock up and bulk-buy in advance, as provided the stamp doesn’t have a price on it and instead just says the postage class, it’s still valid after the rise,” Martin Lewis said. “This has been an effective tactic, as a first-class letter stamp is now £1.65, soon rising to £1.70 – in 2012 it was just 60p. So while it’s not a huge saving this time, you still may as well stock up now.”
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The money-saving guru’s MSE website urges Brits to make sure they only buy stamps from ‘reputable’ high street outlets and keep their receipts to make sure they’re not stung by ‘fakes’. “On July 31, 2023, Royal Mail scrapped everyday non-barcoded stamps – the ones that feature a profile of the Queen’s head – in favour of barcoded versions,” they added. “You can no longer use these non-barcoded stamps, but you can still exchange them for new barcoded versions for free.”
Christmas stamps or ‘special’ stamps with pictures on them remain valid, meaning there’s no reason to swap these. If you do need to swap the non-barcoded stamps, you’ll need to complete a ‘Swap Out’ form here.
While there is no deadline currently set to complete swaps, MSE advises doing it ‘sooner rather than later’ in case the scheme closes. “Royal Mail said it’ll aim to process your application within 30 days,” it added.
The price change has been met with heavy criticism, with Citizens Advice arguing it is yet “another blow to consumers”. “While stamp prices continue to climb, millions of people face post delays every year,” said Director of Policy Tom MacInnes. “Royal Mail hasn’t met an annual delivery target for five years, but consumers will pay 124 per cent more for a 1st class stamp, and 34 per cent more for a 2nd class stamp, than they did in 2020.”
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