Inflation may be at a record low, but that’s not holding back Royal Mail.
First and second-class stamps are going up by a penny from the end of March, the postal company has revealed.
It takes the price of a first class stamp to 63p and second class to 54p.
That’s a rise of 1.6 per cent and 1.8 per cent - more than a lick ahead of inflation.
The latest figures show on average the price of goods is rising at 0.3 per cent, the lowest since 1989.
The cost of sending large letters will also go up, rising two pence to 95p for first class postage -that’s an inflation-busting rise of 2.1 per cent - and by one pence to 74p for second class - that’s a further inflation-busting 1.4 per cent rise.
A small delivery of good news for those still sending snail mail though- the cost of sending a medium size parcel will drop, while second-class small parcels which were discounted over Christmas will remain at the lower price.
Expect smaller presents next Christmas that you won’t receive until New Year as family and friends sensibly go for those cheaper delivery options .