ROYAL MAIL will increase the cost of First and Second Class stamps by 2p from March the 26th.
First Class stamps will be priced at 67p, but Second Class stamps will still cost 58p.
The postal services are aware that there are a number of companies and households that are under financial strain in the current economy. However the stamp increase is required in order for the sustainability of the service to remain.
Royal Mail have stated that “UK stamps are amongst the best value for money in Europe”.
94p is the equivalent European average cost of a First Class letter that weighs up to 100g, whereas the average cost of a Second Class stamp across Europe is equivalent of 74p.
Ten years ago the cost of a First Class Stamp was 27p and a Second Class Stamp was 19p.
The cost of one First Class stamp compared to everyday items from March 2018 include:
Five bananas from Tesco costing £0.14p each, would be the same price as a First Class stamp.
A cup of tea from an independent Cafe would cost 50p, which is 17p cheaper than a stamp which could help keep a homeless person warm during the winter.
Two 16 packs of 500mg Paracetamol from Tesco is also the same price as posting a letter.
Current stamp purchases will still be valid once the costs have increased in March.
Listen below to hear university student Connor Thorpe’s views on the stamp cost increase: