The price of first-class stamps is going to increase by 10p to 95p, Royal Mail announced on Friday.

The cost of second-class stamps will also increase to 68p, a two-pence hike, and the new prices coming into effect on 4 April.

Royal Mail said letter usage has declined in recent years, falling by more than 60% since their peak in 2004/5 and by around 20% since the start of the pandemic.

This, and inflation, has caused a price increase.

Nick Landon, who is the chief commercial officer at Royal Mail, said that while the number of letters has declined from 20 billion to seven billion in 18 years, the number of addresses postmen and women deliver to has increased by 3.5 million in the same period.

“We need to carefully balance our pricing against declining letter volumes and increasing costs of delivering to a growing number of addresses six days a week,” he said.

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“As customer needs change and we see a greater shift from letters to parcels, it is vital that the universal service adapts to stay relevant and sustainable.

“These price changes are necessary to ensure we can continue to maintain and invest in the one-price-goes-anywhere universal service for future generations.”

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