Royal Mail says letter deliveries are continuing to decline, but operating costs are going up.
The price of a first class stamp will rise by 10p to 95p as Royal Mail seeks to cover higher delivery costs while the number of letters being sent falls.
Royal Mail said it was having to deliver to a growing number of addresses, which was adding to costs. Postmen and women deliver about seven billion letters in total each year, said Nick Landon, chief commercial officer at Royal Mail, but the number of addresses they have to deliver to has grown by around 3.5 million since 2004, when letter volumes were at about 20 billion a year on average.
"As customer needs change and we see a greater shift from letters to parcels, it is vital that the universal service adapts to stay relevant and sustainable."The increase in stamp prices comes as many households are being hit by rises in the cost of living, with energy bills, fuel prices and food costs all going up.
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