UK Postage Stamps 1st Class with New Prices

The UK Postage Stamps 1st Class have undergone a price change. The new prices for these stamps are £0.85.

The Royal Mail has implemented this change to account for inflation and the rising cost of postage.

If you're looking to send a standard letter, you'll need to use the new 1st Class stamps, which are now available at a cost of £0.85.

These stamps are available for purchase at local post offices and online through the Royal Mail website.

The price of a first-class stamp has increased significantly in recent years.

In October 2023, the price rose to £1.65, a 30p increase from the previous price.

This is the fifth increase in less than three years, with the price doubling since March 2022 when it was 85p.

Royal Mail blames the increase on "urgent" financial challenges amid declining letter volumes.

Letter volumes have fallen from 20 billion in 2004-05 to about 6.7 billion in 2023-24.

The average household now receives four letters a week, compared to 14 a decade ago.

The cost of delivering each letter has increased as a result of the decline in letter volumes.

Royal Mail says it has sought to keep price increases as low as possible in the face of declining letter volumes and rising business costs.

However, the company is facing significant financial challenges, making a £419m loss last year.

The universal service obligation, which requires Royal Mail to deliver post six days a week, is a major contributor to the company's financial struggles.

Royal Mail is calling for the service terms to be reformed to reflect changing customer preferences and increasing costs.

The company is also seeking to reduce the number of days it delivers second-class letters, which could help cut costs.