An Post will raise the price of a standard postage stamp again next month, the fourth such price hike the State-owned postal carrier has rolled out in less than three years.
From February 1st, the price of a standard national stamp will increase by 5c to €1.40, an increase of around 3.7 per cent. Large envelope and registered post rates will also increase, An Post said, but international letter stamp rates will remain unchanged at €2.20 as will digital stamp prices at €2.
“Conscious” of the impact of the changes on customers who send post regularly, An Post said the price of a book of ten stamps will remain €13.50, working out at the current rate of €1.35 per stamp. A box of 100 stamps, meanwhile, will work out at €1.30 per stamp.
From next month, postage rates will have risen by 40 per cent since May 2021 when An Post increased standard stamp prices by 10c from €1 to €1.10. Further price hikes followed with a 15c increase in March 2022 and 10c last February as the company blamed rising costs and an ongoing decline in the number of letters being sent each year.
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“We have made every effort to minimise the necessary price increases by spreading them across letter products and services while ensuring top quality, sustainable services for all customers, wherever they live,” said Garrett Bridgeman, managing director of An Post Commerce in a statement on Wednesday evening. “These increases are necessary to cover rising costs and ensure service continuity and innovation on par with the best in Europe.”
General consumer prices increased by 3.9 per cent in the year to the end of November, according to the Central Statistics Office’s most recent consumer price index (CPI). An Post said next month’s 3.7 per cent price hike falls below the latest CPI inflation rate. However, EU estimates indicated last week that inflation in the Republic and the euro area edged higher in December after moderating throughout last year.
An Post said its input costs, including fuel and energy bills, increased by 6 per cent last year and the new rates reflect that reality. “We’re alleviating the impact on SMEs and personal customers by providing discounts and regular price promotions through the year at post offices and online,” Mr Bridgeman said.
In its annual report last June, An Post reported a loss before exceptional items of €27.4 million for 2022, up slightly from €26.3 million in 2021. Revenues at An Post were stable year-on-year at €880 million despite a 68 per cent decline in parcels coming into Ireland from Britain due to new, post-Brexit customs rules.
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