Martin Lewis Stock Up – UK Stamp Prices to Surge by 22%: Martin Lewis Advises Bulk Buying

Martin Lewis Stock Up – Martin Lewis, the well-known Money Saving Expert, has advised UK households to stock up on postage stamps before a significant price increase takes effect. Starting October 7, 2024, first-class stamp prices will rise by 22%, reaching £1.65. Additionally, the costs for Royal Mail’s ‘Signed For,’ ‘Special Delivery Guaranteed,’ and ‘Tracked’ services will also see an increase.

Why You Should Stock Up on Stamps

Martin Lewis recommends purchasing stamps in bulk before the price hike. He explains that as long as the stamp does not display a specific price but only the postage class, it will remain valid even after the increase. This proactive measure could save money in the long run, especially for those who use stamps frequently, including for holiday cards.

Current and Upcoming Stamp Prices

• First-Class Stamps: Prices will rise to £1.65 on October 7.
• Second-Class Stamps: Will remain at 85p, capped until 2029 to keep letter sending affordable.

Concerns Over Fake Stamps

Martin Lewis also warns about the risk of counterfeit stamps. He advises buying stamps from reputable high street stores or directly from the Royal Mail’s online shop, where a minimum purchase of £50 qualifies for free delivery. The Royal Mail recently paused penalties for fake stamps while addressing counterfeit issues, but users of fake stamps may still face charges.

Public Reaction and Complaints

The price increase has sparked a range of reactions from the public. Some users expressed frustration over the rising costs, noting that a first-class stamp price has increased by 50% since October last year. Others criticized the quality of the service, highlighting delays even with ‘first-class’ delivery.

Regulatory and Service Changes

Ofcom has suggested that Royal Mail might reduce Saturday deliveries for second-class letters in a potential overhaul. This proposed change reflects ongoing challenges faced by the Royal Mail, including declining letter volumes and inflationary pressures.

Conclusion: What to Do Before the Price Increase

As the price hike approaches, Martin Lewis’s advice to stock up on stamps becomes increasingly relevant. Households are encouraged to purchase stamps now to benefit from current prices and avoid the forthcoming increase. By planning ahead, consumers can save money and mitigate the impact of rising postal costs.

Summary

With first-class stamp prices set to rise by 22% from October 7, 2024, Martin Lewis advises UK residents to purchase stamps in advance to take advantage of current prices. The rise will affect various Royal Mail services, and concerns about counterfeit stamps are also highlighted. The Royal Mail is dealing with service challenges and potential regulatory changes, making Lewis’s advice timely and practical.

FAQ: Martin Lewis’s Advice on Stamp Price Increase