Published on February 21st, 2020 | by Sam Rose
Latest Update (Feb 21st): 2020 Stamp Price Increase Announced
Royal Mail have announced that a 2020 stamp price increase is incoming and will come into effect on the 23rd of March.
In a statement published on their website, the Royal Mail have announced that the price of First Class and Second Class Stamps are set to rise this year, by 6p and 4p respectively.
This will mean that the price of a First Class Stamp will now be 76p rather than 70p, and a Second Class Stamp will cost 65p, rather than the current rate of 61p.
Explaining that the Royal Mail is currently operating in a challenging business environment, the company state that they have “considered any pricing changes very carefully and in doing so have sought to minimize any impact on our customers.”
2020 Stamp Price Increase Required to Maintain Quality of Service
Speaking on behalf of the company, Stephen Agar, the Managing Director of Letters at Royal Mail reiterates that the change has been made with the public’s best interests at mind but is necessary in order to support the Universal Service overall.
“We are operating in a tough market at present, under the threat of making a loss by 2021.
These price increases will help us to maintain the quality of service that is expected by our customers, while supporting the Universal Service.”
Stamp Prices Still Best Value Compared to Europe
Despite the upcoming 2020 stamp price increase going live on the 23rd of March, the Royal Mail’s research into the cost of postage and stamps across Europe has concluded that Royal Mail’s stamp prices are still amongst the best value in Europe when compared to other postal operators.
Their findings show that the average price of a First Class Letter (0-100g) within Europe is £1.05, meaning that even after the 2020 stamp price increase, postage costs in the UK will still be lower overall.