Stamp prices are set to rise by by 10p from next month. The Royal Mail confirmed it will increase the price of first-class stamps to £1.25 and second-class stamps at 86p.
Previously, industry regulator Ofcom said price increases for second-class stamps would be capped at the rate of inflation until 2029 in order make sending letters more affordable.Nick Landon from 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."
Despite this, there may still be a way to avoid the price increases with one simple trick, and all it involves is planning for the long term. MoneySavingExpert has advised savvy-savers to stock up stamps before the increase comes into effect.
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