The cost of Royal Mail stamps has increased today, with a first-class stamp now priced at £1.80 and a second-class stamp at 91p. In comparison, the cost of a first-class stamp was 64p in 2016, showing a significant 181% rise over the past decade.
Royal Mail attributed the price hike to a decline in letter volumes being sent, coupled with a rise in the number of addresses being served. Richard Travers, Royal Mail’s managing director of letters, emphasized the careful consideration given to price adjustments to balance affordability with the escalating expenses of mail delivery.
Statistics reveal that UK adults currently spend an average of just £6.50 annually on stamps, with a 70% reduction in the volume of letters sent compared to two decades ago. Despite this decrease, the number of addresses receiving mail has surged by four million to 32 million across the UK.
The postal service faces criticism for failing to meet its delivery targets, achieving 77% and 92.5% on-time delivery rates for first and second-class mail, respectively, in the 2024/25 financial year. Royal Mail last met its annual target for timely first-class post delivery in 2019/20.
Following approval from Ofcom, Royal Mail will no longer deliver second-class post on Saturdays and will only provide this service on alternate weekdays. Despite these changes, a target remains for second-class letters to reach recipients within three working days.
Czech billionaire Daniel Kretinsky’s EP Group acquired Royal Mail for £3.6 billion in June last year. In response to delays in mail delivery, Mr. Kretinsky expressed regret and highlighted the need for structural reforms to address the postal service’s challenges.
When pressed by the Business and Trade Committee chairman to apologize for declining service quality, Mr. Kretinsky acknowledged room for improvement but defended the service’s consistent performance over the past three years.
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