2016-03-29 Tue

Royal mail has increased the price of First Class stamps by 1p this week to 64p. Second class stamps will also see a price rise from 54p to 55p. Over the past decade, First Class stamps have seen a 100% rise in its price over the past decade. Royal Mail has stated that they have "carefully considered" the impact of this rise on their customers and their business which is why they have opted to apply the "smallest possible increase".

The price of the first Class stamp in UK remains well below the European average of 78p while Second Class stamps in UK remain below the European average of 64p. The price of stamps for large letters weighing up to 100 grams will also rise by 1p to 96p.

While the price is modest, consumers may be disappointed by the fact that the rise is not in line with RPI inflation.