Martin Lewis has issued an urgent warning for British households to stockpile stamps ahead of a significant price rise. Royal Mail has announced that from April 6, the cost of first-class stamps will increase to £1.80, while second-class stamps will rise to 91p. This marks the eighth increase since 2020, representing a 137% surge over six years.
Lewis, the personal finance guru, advised consumers to bulk-buy stamps now, as stamps without a printed price remain valid after price hikes. He noted that a first-class stamp was just 60p in 2012, compared to the current £1.70, soon to be £1.80. The price rise also affects other Royal Mail services, including 'Signed For', 'Special Delivery Guaranteed', and 'Tracked' services, as well as parcel dispatch costs.
The announcement comes amid growing criticism of Royal Mail's performance. MPs have accused the company of failing to meet delivery targets, with Labour MP Dave Robertson claiming his constituents are "sick of being lied to by Royal Mail." He alleged that the company misrepresented its performance in his constituency of Lichfield.
Citizens Advice also weighed in, with Head of Policy Anne Pardoe stating that stamp prices cannot be treated as a "dial that is turned up" without justification for consumers. She called for price increases to be tied to Royal Mail's delivery performance, noting that the company has not met its annual delivery targets since 2019-2020.
Royal Mail defended the price rises, with managing director Richard Travers stating that the company carefully balances affordability with rising delivery costs. He highlighted that UK adults spend an average of just £6.50 per year on stamps, while the number of letters sent has fallen by 70% over the past two decades, despite an increase in delivery addresses.
