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Price of first class stamp rises to £1.80
Royal Mail said the increase reflects falling letter volumes and higher costs, as only 77% of first-class letters meet the one-day target.
On Tuesday, Royal Mail raised first-class stamps by 10p to £1.80 and second-class stamps to 91p, while announcing a 5% domestic and 5.5% international fuel surcharge for business accounts effective May 3.
Managing Director of Letters Richard Travers stated the company balances affordability with rising delivery costs, citing falling letter volumes and a growing network now reaching 32 million addresses.
Performance data shows 77% of first-class mail arrives within one working day against a 93% target, marking the eighth price increase in five years amid mounting criticism.
Business and Trade Committee Chair Liam Byrne described service failures as "significant," while Citizens Advice head of policy Anne Pardoe argued price rises must be performance-linked.
International Distribution Services owner Daniel Kretinsky called to "urgently move forward" with reforms; analysts warn confidence returns only when service levels match prices paid.