Royal Mail warns another hike in stamp prices is likely after April increase

Postal service says potential rise would help offset higher staff and energy costs and fall in parcel deliveries

Royal Mail has warned that it is likely to raise prices again for stamps and letters, as part of efforts to combat rising costs and offset a post-pandemic slowdown in parcel deliveries.

The delivery company said on Thursday it would try to make up for falling revenues and higher staff and energy costs through price increases and growth initiatives" over the next year, having already raised the price of sending letters and parcels by 7% and 4% respectively. Royal Mail said it had also introduced a fuel surcharge in some of its contracts, in a move that finance chief Mick Jeavons said was fairly measured".