How it hiked stamp prices

ROYAL Mail raised the price of stamps again earlier this year.

First-class stamps rose by two pence to 67p, while the price of a second-class stamp increased from 56p to 58p. Large letter stamps each rose by 3p. A large letter firstclass stamp rose to 101p and the second class version to 79p.

This year’s price rise – which came into force on March 26 – is double that the previous year’s increase of a penny.

The company claims its prices are among the best value in Europe when compared with other postal operators.

A Royal Mail spokesman said in February that it understood that many households and companies were finding it difficult in the current economic climate. However, they stressed the changes would ‘help ensure the sustainability of the Universal Postal Service’.

Royal Mail has been battling a fall in letter volumes for years while its parcel market has been challenged by competition from the likes of Amazon.