UK stamp prices will increase by 1p from March, the Royal Mail has said

 
Emma Haslett
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The Price Of UK Postage Stamps Set To Increase
Stamp prices will rise by 1p from the end of March (Source: Getty)

The Royal Mail has announced the price of stamps in the UK are due to increase by 1p from the end of March.

In a statement today it said first class stamps will rise to 65p, while second class stamps will rise to 56p.

Meanwhile, the price of a large letter first class stamp will rise 2p to 98p, while a large letter second class stamp will rise 1p to 76p.

Royal Mail said it had "considered pricing changes very carefully".

"These changes are needed to help ensure the sustainability of the Universal Postal Service," it added.

Royal Mail’s stamp prices are among the best value in Europe when compared to our counterparts. The European average for First Class letters (0-100g) is 87p. The UK First Class stamp price remains below this. The European average for Second Class letters (0-100g) is 67p. The UK Second Class stamp price remains below this. The UK also has the highest quality of service specification of any major European country.

Despite the rapid growth of ecommerce in the UK, Royal Mail has struggled in recent years as online retailers chose rival companies to deliver parcels.

Figures published last month showed volumes in Royal Mail's letters business had fallen two per cent, with revenues falling five per cent - although parcel revenue was up three per cent.

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