The price hike will affect the cost of a standard postage stamp as well as the price for sending a standard international letter.
Bad news for all the philatelists and letter writers out there as An Post has announced an increase in the cost of a stamp, which will come into effect from the end of this month.
The news means the price of a stamp for a standard letter will increase by 10c from 27th May, rising to €1.10. This is the first price increase of its kind in more than four years.
The cost of sending a standard international letter is also set to rise by 30c, from €1.70 to €2.00.
An Post has outlined that all existing National ‘N’ rate stamps will automatically represent the new €1.10 postage from 27th May, while Worldwide ‘W’ stamps will cover the €2.00 international letter rate.
However, in better news, the price of sending parcels and large envelopes won't increase for now. The cost of sending something by registered post is to remain unchanged too.
An Post says the new rates bring it into line with prices elsewhere in Europe and that the cost of postage here is well below the European average when adjusted for income levels.
Consumers were expected to be hit with the stamp price increase in February of 2020, however the plans were postponed as part of its public service measures for consumers during the lockdown.
The semi-state said that while parcel volumes surged in 2020, the number of traditional letters being sent fell during lockdown and is now down by 25% since the last price increase took effect, which has put upward pressure on its profitability. An Post has also had to contend with increased costs due to the Covid pandemic, which have come to around €50 million.
When the last stamp price increase was implemented in 2017 the increased revenues were invested in the postal service’s transformation, and this increase is no different according to CEO of An Post, David McRedmond.
These increases are necessary for An Post to accelerate its successful transformation into a modern network delivering to every community across the country. We’re rebuilding our infrastructure to support growth in eCommerce, expanding our e-Vehicle fleet for fast, sustainable zero-emissions delivery and designing a world-class delivery structure for the community and businesses.
We have provided millions of euros worth of postage discounts and free mail marketing to SMEs during the pandemic. We pledge to extend our SME supports and to maintain our Community Focus initiatives to keep all our customers connected through free postage to nursing homes and for those living alone, free newspaper delivery and postperson check-ins for older, vulnerable or isolated customers.
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What do you make of the latest changes to the price of stamps? Necessary investment for a beneficial service? Unfair to the consumer? Let us know in the comments below.