Another autumn postage rate increase on 7 October 2024 - will there be two a year in future?

Once again Royal Mail chose to announce new postage rates while we were away, so by now most of the headline news is well known.  

Royal Mail Press Release extract 6 September 2024

From 7 October 2024, the price of First Class stamps will increase to £1.65 and the price of Second Class stamps will remain unchanged at 85p.

Royal Mail has sought to keep price increases as low as possible in the face of declining letter volumes, inflationary pressures and the costs associated with maintaining the Universal Service.
The new price of First and Second Class stamps remain below European average prices of £1.73 for First Class and £1.33 for Second Class.

Letter volumes have fallen from 20 billion in 2004/5 to around 6.7 billion a year in 2023/4. As a result, the average household now receives just four letters per week, compared to 14 per week in 2004/5. The number of addresses Royal Mail must deliver to has risen by four million in the same period meaning the cost of each delivery continues to rise.

At the same time the opportunity has been taken to increase the basic airmail rate, which is unaffected by the above factors.

The new rate chart can be downloaded here.  New prices in bold, unchanged rates in italics.  The 1st class £3.50 rate now covers Large Letters over 100g to 750g.

	1st		2nd
Letter	1.65	1.35	0.85	0.85
Large Letter – 100g	2.60	2.10	1.55	1.55
- 250g	3.50	2.90	2.10	2.10
- 500g	3.50	3.50	2.50	2.50
- 750g	3.50	3.50	2.70	2.70
Small Parcel 2kg	4.79	4.59	3.75	3.69
Medium Parcel 2kg	6.99	6.69	6.15	5.89
- 10kg	8.69	8.39	7.65	7.39
- 20kg	13.19	12.49	11.55	10.99

Special Delivery rates are also increased.  The 100g rate rises by 40p from £7.95 to £8.35, the 500g rate by 40p to £9.35. 

UK Tracked rates see minor increases.  The basic 1st class Large Letter rate is raised by 10p to £3.60, the Small Parcel rate by 20p to £4.99.  The 2nd class rates by 10p to £2.80, the Small Parcel by 6p to £3.95. 

UK Signed rates rise broadly in line with the basic letter rates.

International rates.   The basic letter rates are increased, but not the Large Letter and Parcel rates.  The airmail rate is increased from £2.50 to £2.80, and the surface rate from £2.20 to £2.60.  Premium services - International Tracked, Signed, and Tracked & Signed all see changes.

Unlike last April, when the new airmail stamp was issued after the rate increased, the new £2.80 stamp will be issued on 1 October.  However, there may be problems obtaining it in Post Offices until the day of the increase (7 October).  

Royal Mail's advice to dealers was "The new £2.80 rate will be live and available in Post Offices from Monday 7th October, the date that the new Tariff comes into force", so read what you will into that.

As usual the 39 x 30 mm self-adhesive stamps are printed by Cartor Security Printers in sheets of 25.

£2.80 slate-blue King Charles III definitive stamp issued for
airmail letters and cards worldwide 1 October 2024

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