Royal Mail Faces Financial Challenges: First-Class Stamp Price Increase to £1.65
Royal Mail's Pressing Financial Situation
Royal Mail has announced a significant increase in first-class stamp prices from £1.35 to £1.65, effective October 7. This 30p hike is attributed to urgent financial challenges faced by the company, primarily stemming from falling letter volumes.
Impact on Consumers
The decision, which signifies the fifth stamp price rise in less than three years, will see second-class stamps remaining unchanged at 85p. This manipulation shows Royal Mail's attempt to stabilize its business amidst challenging market conditions.
Business Overview
- First-class stamp price rises from £1.35 to £1.65.
- Second-class stamps will stay at 85p.
- Fifth increase in stamp prices since 2021.
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