Royal Mail hikes price of first-class stamps for third time in a year - how much you'll now pay

• Royal Mail has hiked the price of first-class stamps from today (October 7)
• The changes affect both standard and large letters, with postage rising by more than 20%
• It’s the third time the price of first-class stamps has risen in 12 months
• Royal Mail said the rise is due to the increasing costs of delivering letters

The price of first-class stamps has risen again today - for the third time in 12 months.

Royal Mail has hiked the postage for standard and large first-class letters by more than 20%, as it says the cost of delivering the letters has “inevitably increased”.

From today (Tuesday October 7), a standard first-class stamp will cost £1.65, rising from £1.35 - a 22% increase. The first-class postage for large letters has seen an even steeper hike, rising by 24% from £2.10 to £2.60.

The price of first-class stamps went up by 14% in October last year, and rose by another 8% this April.

There is no change to the cost of second-class stamps, which remain at 85p for a standard letter and £1.55 for a large letter.

The founder of Money Saving Expert, Martin Lewis, had urged people to stock up on stamps ahead of today’s increase - but warned people to be careful of fakes. To check whether a stamp is real, you can use Royal Mail's new 'fake stamp scanner'.

Why is the cost of first-class stamps rising?

Royal Mail said while the volume of letters being delivered is declining, the cost of delivering letters has increased - with multiple forms of transportation, and even drones, needed to deliver letters.

Nick Landon, chief commercial officer at Royal Mail, said: "We always consider price increases very carefully. However, when letter volumes have declined by two-thirds since their peak, the cost of delivering each letter inevitably increases.

"A complex and extensive network is needed to get every letter and parcel across the country for a single price – travelling on trucks, planes, ferries and in some cases drones before it reaches its final destination [delivered] on foot. We are proud to deliver the universal service, but the financial cost is significant.

“The universal service must adapt to reflect changing customer preferences and increasing costs so that we can protect the one-price-goes anywhere service, now and in the future.”

Do you still send letters, and what do you think about the price hike for first-class stamps? Let us know your thoughts in the comment section below.