Welcome to the Metro money blog where today we’re looking at Royal Mail’s stamp price increase.
Today is the last working day before the inflation-busting price hike comes into force on Monday, October 7, increasing the cost of a standard first class stamp by 30p.
The decision to up prices has drawn criticism, with Citizens Advice saying the increases have come at the ‘worst possible time’ for consumers.
Meanwhile, Money Saving Expert Martin Lewis has warned that anyone planning to bulk buy stamps ahead of the price rise should make sure they don’t end up buying fakes or invalid stamps.
We’ve got all the details, plus the latest in money and personal finance news, in our live blog below.
How to beat the first class stamp price hike
Martin Lewis offers this advice to beat the price increase: ‘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.
‘So you may as well stock up now, even if it’s just for Christmas cards for the next few Christmases.’
However, the Money Saving Expert also warns against buying fakes as unscrupulous people may try to capitalise on potential bulk buying.
Tips to avoid fakes include:
- Buy from reputable high street outlets and, where possible, hang on to your receipt
- Stamps are also available directly from the Royal Mail online shop, and you can get free delivery if you spend more than £50
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