MARTIN Lewis is urging Brits to stock up on stamps now to avoid the Royal Mail price hike.
The price of a first class stamp is rising by 9p from January, from 76p to 85p, while a second class stamp is going up by 1p, from 65p to 66p.
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The biggest increase is the cost of a first class stamp for a large letter, which is going up by 14p, from £1.15 to £1.29.
The new prices will come in from January 1 and were confirmed by the Royal Mail last week.
It means anyone who uses a lot of stamps has time to stock up before the increases come into force.
Issuing a warning in his MoneySavingExpert newsletter, Martin said: “Stock up on stamps NOW to beat Jan’s up to 14p hike.”
Do stamps have an expiry date?
STAMPS don’t have an expiry date, which means you can stock up now and use them at a later date.
According to the Royal Mail, stamps with no monetary value can be used at any point – regardless of price increases.
Stamps with a monetary value also don’t expire, and can be combined to to make up the total value of postage that you need.
However, you will need to make sure the value on the stamp equals enough for the cost of current postage charges.
For example, if you have stamps worth 70p then you’ll need to make up the remaining 6p for the current cost of a first class stamp.
Here’s how much the cost of stamps are going up by:
- First class stamp (standard letter) – 76p to 85p (9p increase)
- Second class stamp (standard letter) – 65p to 66p (1p increase)
- First class stamp (large letter) – £1.15 to £1.29 (14p increase)
- Second class stamp (large letter) – 88p to 96p (8p increase)
Stamp prices last went up in March this year, with first class stamps increasing by 6p, from 70p to 76p.
At the same time, the price of second class stamps went up by 4p, rising from 61p to 65p.
It means that by January stamp prices will be 13p higher for standard first class and 7p higher for second class than a year earlier in January 2020.
The price hike comes just weeks after Royal Mail revealed letter volumes have fallen 28% in the six months to September 27, compared with a year earlier.
Royal Mail said: “The reduction in letter volumes has had a significant impact on the finances of the universal service which lost £180million in the first half of the year.
“This demonstrates the need for change in the universal service.
“We are working tirelessly to deliver the most comprehensive service we can in difficult circumstances as the coronavirus pandemic continues to impact our operation.”
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But delivery services are under pressure because of the pandemic, which means you should get ahead of these last order dates and send your presents sooner rather than later.
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