Royal Mail Hikes Stamp Prices, Critics Worry

0:00On March 6th, Royal Mail is raising stamp prices again starting April 7th. First-class stamps will cost 1.80, up 10 pence or 6%. Second-class goes to 91 pence, a 4 pence or 5% increase. The company says it's due to higher delivery costs for each letter. Fewer people send mail these days, down 70% from 20 years ago. Yet Royal Mail now delivers to 32 million addresses, 4 million more than before. They claim they balance affordability with these rising expenses. Citizens' advice calls it a failing service and questions the hikes. First-class prices are of 137% since 2020, while second-class rows 40%. Last autumn, regulators find Royal Mail 21 million pounds for missing delivery targets, the third such penalty. After a 3.6 billion pound takeover by a check billionaire last year, rules eased up. Second-class mail needs delivery only on alternate weekdays now, not 6 days a week.

1:02Targets drop 2 to 90% of first-class in one day, and 95% of second-class in three days. Critics warn service could worsen with looser standards and higher costs, urging better performance before more price jumps.