Feb 22, 2019
Royal Mail 'sorry' for rising stamp price above cap
Royal Mail has apologised after announcing a price rise which breaches a cap designed to make the postal service "Affordable" for all consumers. From 25 March, the price of a first-class stamp will rise by 3p to 70p and a second-class stamp by 3p to 61p. Raising the cost of second-class post breached Ofcom's current price cap of 60p which is in place until 1 April. Ofcom set the current price cap in 2012, when it allowed Royal Mail to increase the price of first and second-class stamps by 14p, following concerns the universal service was at "Severe risk." Royal Mail says it informed Ofcom of its "Error" before announcing the new 61p price on Friday. Royal Mail says its prices remain good value when compared with other postal operators around Europe.
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