Cautioning over possible further price hikes, Royal Mail has revealed plans to ramp up cost cutting.
It said it was also keeping its prices under constant review to combat rising inflation, which comes after it recently hiked the cost of posting letters by an average of around 7%, and parcel prices by an average of about 4%, on top of a fuel surcharge. Chief executive Simon Thompson told the PA news agency the group remains in “intense discussions” with the Communication Workers Union as they look to agree on pay.
But its figures showed UK full-year parcel deliveries still rose 31% against levels seen before the pandemic struck, while letter mailings were 18% lower on a two-year comparison. Year-on-year, parcels fell 7% on the lockdown boosted previous year, while letters rose 3% thanks to the lifting of restrictions.
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