Royal Mail hikes first-class stamps to £1.65 | EUROtoday

Royal Mail has introduced it’ll hike the worth of first-class stamps by 30p as a result of “very real and urgent” monetary challenges.

The enhance, which can kick in from 7 October, will see the worth of a first-class stamp rise to £1.65p, whereas second-class stamps will stay at 85p.

The firm stated it was going through stress from declining letter volumes and rising enterprise prices in sustaining the one-price-goes-anywhere common service.

It has known as for the service phrases, below which it’s legally obliged to ship letters six days per week, Monday to Saturday, and parcels Monday to Friday, to be reformed.

“We always consider price increases very carefully. However, when letter volumes have declined by two-thirds since their peak, the cost of delivering each letter inevitably increases,” stated Nick Landon, chief business officer at Royal Mail.