ROYAL Mail is hiking the cost of posting a letter by up to 3p.
The price of a First Class stamp is to increase by 3p to 70p and a Second Class stamp will go up by 3p to 61p, the delivery service has announced.
Alamy Royal Mail is hiking the price of First and Second class stamps
The Royal Mail said that it considered the price hike “very carefully” but believed they are “necessary to help endure the sustainability of the Universal Postal Service.”
The new price for First and Second Class stamps will come into effect from March 25.
The cost increases are on top of the changes it is making to its redirection service which is announced earlier this year.
From next month, Royal Mail will charge for the number of customers who want their post redirected, rather than on a per-surname basis.
Alamy The price of the Second Class stamp is rising to 61p
In a statement, it said: “Royal Mail understands that many companies and households are finding it hard in the current economic environment.
“As a result, we have considered any pricing changes very carefully and in doing so have sought to minimise any impact on our customers.”
The price hikes are larger than they were last year, where the price of stamps rose by just 2p each.
Last year, the struggling post and parcel firm said it would save just £100million, rather than a forecast £230million.
FEED GOOD Just Eat to ban restaurants with bad hygiene standards NICE BUNS Aldi is doing five new hot cross bun flavours including rhubarb and custard SNORE OFF Aldi’s sell-out £6 anti-snore pillow is back in stores this weekend AISLE HAVE THAT Special code that gets you 30% off at Sainsbury’s when you spend £60 online BANKING BLUNDER Barclays app glitch wipes savings accounts – but bank insists cash is safe SponsoredTAXING TIMES ‘Houses are more interesting than sandwiches’ Sarah Beeny on tax going digital
The postal service is also trialling a redesign of its traditional postbox that is big enough for you to post your parcels.
Plans for posties to be thrown into the front line of Theresa May’s war against loneliness – by “checking up” on vulnerable Brits.
Last year, Royal Mail was slammed for failing to mark Brexit on its stamps but still found the time to celebrate owls.
We pay for your stories! Do you have a story for The Sun Online Money team? Email us at firstname.lastname@example.org