Price of first class stamp rises to £1.80

Price of first class stamp rises to £1.80 19 minutes ago Share Save Add as preferred on Google Jemma Crew and Jonathan Josephs , Business reporters The price of stamps has risen again, as the postal service faces criticism for failing to hit delivery targets. A first class stamp now costs £1.80 - an increase of 10p - while a second class letter has risen by 4p to 91p. Royal Mail has said the increases are necessary because people are sending far fewer letters while the number of addresses continues to increase. Many businesses and consumers are unhappy the price rise is going ahead despite the company's performance. Just 77% of first class letters are being delivered within one working day against a target of 93%. The latest rise is the eighth increase in five years, and comes at a time when Royal Mail is under growing pressure on several fronts. In recent weeks, it has faced several complaints from MPs and the public about its letter service. From next month business account holders also face some higher charges because the Iran war has increased the cost of energy. Royal Mail staff say they were told to hide post to look like delivery targets met Ten years ago, a first class stamp cost 64p while a second class stamp was 55p. Announcing the price increase last month , Royal Mail's managing director of letters, Richard Travers, said: "We always consider price changes very carefully, balancing affordability with the rising cost of delivering mail." The jump in stamp prices over the past few years, together with Royal Mail's poor delivery performance, has angered many consumer groups. The rise has been criticised by the charity Citizens Advice, which last month said price rises should be tied to performance. In recent weeks, the Royal Mail has faced several complaints from MPs and the public about its letter service. Last month, postal workers from across the UK told the BBC they were being asked to move or hide mail from senior bosses so it looked like delivery targe...