Royal Mail announces proposed date for 1p rise on stamps

Royal Mail has announced proposals for price increases to First and Second Class services from Thursday April 17 2003. Discussions with the industry regulator Postcomm are still underway, but Royal Mail is announcing the proposed date to help customers plan for the change.

Subject to Postcomm’s agreement, prices for Royal Mail’s First and Second Class services would increase by between 2.5% and 5.5%. The price of a First Class stamp for items weighing up to 60g would increase from 27p to 28p and Second Class from 19p to 20p.

In real terms Royal Mail’s First Class prices have fallen by 7 per cent and Second Class by 15 per cent during the past five years.

Prices for the business services Mailsort and Walksort, along with all contract Packetpost services would also increase in proportion to the changes to First and Second Class prices.

Royal Mail Managing Director UK Jerry Cope said: “Services will continue to offer excellent value for money with some of the lowest postage prices in Europe.”