Martin Lewis issues bulk buy warning to stock up on staple before prices rise
Martin Lewis has warned households to stock up on first-class stamps this month - before the price reportedly increases by 8 per cent.
The journalist offered the advice as Royal Mail confirmed the price hike from April 2, leaving just four weeks for families to grab as many of the stamps as they can while they remain at £1.25. The price of second-class stamps are set to increase by a larger 13 per cent on April 2 too. Large first class stamps rise to £2.10 from £1.95.
Both hikes represent an eight per cent rise. Second class stamps are up 10p to 85p from 75p in a 13 per cent increase, but second class large stamps stay at £1.55 - no change. Standard and large letters using the stamps above can weigh 100g max (large letters can weigh up to 750g using other stamps).
Standard must be no larger than 24cm x 16.5cm x 5mm. Large letters can be no bigger than 35.3cm x 25cm x 2.5cm. Mr Lewis, founder of MoneySavingExpert.com, said: "For years, every time stamps go up in price I've suggested people stock up and bulk-buy in advance, as provided the stamp doesn't have a price on it and instead just says the postage class, it's still valid after the hike," reports Birmingham Live.
"This has been an effective tactic, as a first-class letter stamp is now £1.25, soon to be rising to £1.35 – in 2012 it was just 60p. So you may as well stock up now." Prices for stamped parcels and letters, and those paid over the counter at a Post Office branch are found in the Our Prices guide.
Shop prices 'are yet to peak and will remain high' as inflation hits new heights
Posting your loved ones' greetings cards is set to become more expensive (PAUL GILLIS / Reach PLC)You can view or download a copy of this guide to our UK and International parcel and letter services, including Parcelforce Worldwide, online. Alternatively, you can pick up a copy from your local Post Office branch.
Speaking on Friday, Nick Landon, chief commercial officer at Royal Mail, said: "We always consider price changes very carefully but we face a situation where letter volumes have reduced dramatically over recent years while costs have increased.
“It is no longer sustainable to maintain a network built for 20 billion letters when we are now only delivering seven billion. As a result of letter volume decline, our posties now have to walk more than three times as far to deliver the same number of letters as before, increasing the delivery costs per letter.”
Read more similar news:
Comments:
comments powered by Disqus
