76p! 8% rise in stamp price gets a lot of stick

THE price of a first-class stamp will increase by 6p to 76p next month – nearly five times the rate of inflation.

The rise of over 8 per cent comes as inflation is running at 1.8 per cent.

The change comes into effect from March 23. A second-class stamp will rise 4p to 65p – the maximum allowed under rules set by regulator Ofcom.

A first-class stamp for a large letter will cost £1.15 – up 9p – and a secondclass stamp for a large letter will increase by 5p to 88p.

The hikes are the biggest increases to stamp costs since 2012. They compare to a rise of 3p in the prices of first and second-class stamps last year. Ten years ago, second- class cost 32p, and first-class 41p.

The new increases sparked anger yesterday. Consumer champion Helen Dewdney, author of The

Complaining Cow, said: ‘Yet another increase in the price of stamps will be a kick in the teeth for UK consumers. It will hit elderly and more vulnerable communities the hardest as they rely on snail mail rather than sending emails.’

Caroline Abrahams, of Age UK, said: ‘It’s disappointing to see stamp prices rising once more. Many older people who are not online rely on the post to pay bills, send cards and hear from loved ones. It’s really important that postal services stay affordable because otherwise some older people could be left high and dry, without a basic form of communication on which they have happily relied throughout their lives.’

Mike Cherry, of the Federation of Small Businesses, said: ‘We should be doing all we can to support small firms to grow and succeed – price hikes like this only prevent that.’

Royal Mail said the increases were ‘necessary’ to ensure the sustainability of its universal service which must deliver to all parts of the country six days a week at a standard price.

Stephen Agar, managing director of letters, said: ‘We are operating in a tough market at present, under the threat of making a loss by 2021. These price increases will help us maintain the quality of service... while supporting the universal service.’

The firm made a £240million profit last year when it delivered 13billion letters and 1.3billion parcels.