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The price of a first-class stamp will improve 10p to 95p from April with second class stamps rising by 2p to 68p, as Royal Mail says the variety of letters being despatched has fallen by 20 % for the reason that begin of the pandemic.
The Royal Mail blamed the long-term decline in letter utilization, coupled with rising inflation, for the brand new costs coming into impact on April 4.
Letter volumes have fallen by greater than 60% since their peak in 2004/5 and by round 20% for the reason that begin of the pandemic.
Nick Landon, chief industrial officer at Royal Mail stated: ‘We perceive that many corporations and households are discovering it exhausting within the present financial atmosphere, and we’ll all the time preserve our costs as inexpensive as attainable.
‘While the variety of letters our postmen and girls ship has declined from round 20 billion a yr to round seven billion since 2004/5, the variety of addresses they should ship to has grown by round 3.5 million in the identical interval.
‘We have to fastidiously stability our pricing in opposition to declining letter volumes and rising prices of delivering to a rising variety of addresses six days per week.
‘As buyer wants change and we see a higher shift from letters to parcels, it’s important that the common service adapts to remain related and sustainable.
‘These worth adjustments are needed to make sure we are able to proceed to keep up and spend money on the one-price-goes-anywhere common service for future generations.’
Unite basic secretary Sharon Graham stated: ‘The Royal Mail boardroom is once more elevating costs whereas serving to itself to huge income. It’s behaving like a short-term grasping speculator reasonably than the accountable proprietor of a key UK public service.
‘With plans to slash 900 postal supervisor jobs and threats issued to Unite that collective bargaining agreements for our members shall be ignored, Royal Mail’s homeowners are ruining this important service. Ofgem has to get a grip as a result of the common service obligation is at critical threat.
‘Unite’s postal managers are the guts of this service and our union will again all of them the way in which on this battle to guard jobs and providers.’
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