Just one week left to buy stamps before prices go up – how much will they cost?

STAMP prices will soar to almost £1 next week as the cost of living crisis continues to bite.

The price of postage will jump from April, with first class stamps rising 10p to 95p each.

A first class stamp cost just 76p in 2020, meaning costs have risen by 25% in two years.

Consumers will also have to pay more for second class stamps from April 4, as they're increasing by 2p to 68p.

The hike comes as households across the country are hit by rising energy costs, food prices and tax bills.

The average gas and electricity bill will soar by almost £700 a year for millions of consumers from April 1.

READ MORE SUN STORIES

I’m a washing machine expert, NEVER use a fast setting for some loads

Five ways to get your Greggs fix for cheap as bakery chain ups prices

Meanwhile, council tax bills are also shooting up across the UK, and shoppers are facing higher prices at the supermarket.

Royal Mail announced the price increases earlier this month, blaming the decision on fewer people sending letters.

The postal service said the number of letters being sent has fallen 60% since 2005.

Since the start of the pandemic, there are 20% fewer letters being mailed.

Most read in Money

CHILD’S PAY

How to avoid losing payments with child benefit loophole – you need to act NOW

BILL CHECK

Exact date Martin Lewis warns you MUST take energy meter reading

FLOWER FAIL

Mother’s Day 'ruined' by dead & rotten flowers from M&S, Tesco, Sainsbury's

TECH FAIL

Halifax and Lloyds Bank went down leaving thousands of customers without access

Royal Mail also said rising inflation has contributed to the rising price, and that the rise is necessary to meet its Universal Service obligation.

That obligation means the postal service has to deliver letters to 31million home and business addresses six days a week for one price.

Nick Landon, chief commercial officer at Royal Mail, said: “We understand that many companies and households are finding it hard in the current economic environment, and we will always keep our prices as affordable as possible."

Royal Mail announced last month that it is moving to a new barcode system, which doesn't include the use of current stamps.

It's in an attempt to make letter sending more secure, but it doesn't make post any easier or cheaper for customers to track.

From January 31, 2023, you won't be able to use the current style of stamps that feature an image of the Queen's head.

Read More on The Sun

Will Smith ‘SLAPS’ Chris Rock on Oscars stage & curses comedian out

Katie Price dumped by fiancé Carl after he accused her ‘of cheating’

Instead, only the new style stamps complete with their new barcodes will be valid, and you'll face a surcharge trying to use anything otherwise.

However, MoneySavingExpert reported that the postal service has made a partial U-turn, and old Christmas stamps will still be valid after that date.

We pay for your stories!

Do you have a story for The Sun Online Money team?

Email us at [email protected]

    Source: Read Full Article