Royal Mail to hike first-class stamps to £1.65

Published On Sep 6, 2024, 10:28 AM

Royal Mail has announced a price hike for first-class stamps, increasing the price to £1.65 starting October 7, due to significant financial difficulties stemming from declining letter volumes and rising operational costs. The UK postal regulator, Ofcom, is considering reforms that may allow Royal Mail to adjust delivery frequencies to alleviate financial pressures. The company is seeking urgent reform of the universal service it is legally required to maintain, as it faces a substantial £419 million loss last year and ongoing challenges with service performance.