MONEY SAVING TIPS
MONEY expert Martin Lewis has warned Brits to bulk-buy a household staple before it jumps up in price. The increase is set to come into play in a matter of days so if Brits don't act now they'll have to drop even more dosh than usual for the item.
STAMP PRICE HIKE
First-class stamps currently cost £1.25, but they'll be rising by 8 percent on April 2, 2024. This means punters will pay an extra 10p per stamp whenever they want to send off a first-class letter – and it's not the only increase.
MARTIN'S ADVICE
Money guru Martin has advised Brits to buy them in bulk before the new prices begin to save a decent chunk of change for all their posting needs. According to his Money Saving Expert (MSE) site, It's the third time first-class stamp prices have jumped in the last year.
REASONS BEHIND THE INCREASE
According to the posting firm, the increase is because of increasing cost pressures, such as wages, and the six day a week service. Just last year, the industry's regulator, Ofcom, mentioned that second-class stamps will be capped at the rate of inflation until 2029.
SIZE MATTERS
Guidance on the size of a standard letter states that it should be no larger than 24cm x 16.5cm x 5mm, while larger letters should be no bigger than 35.3cm x 25cm x 2.5cm. First-class stamps command a higher fee because they come equipped with a promise of being delivered faster.
MAJOR CHANGE IN ROYAL MAIL SERVICES
The news comes after Royal Mail announced its making a major change to its services, and it's good news for those who regularly shop online. Shoppers who rely on Royal Mail to send and receive online orders will be able to use parcel lockers for the first time next month.
