MORE than two-thirds of people think the increase in the price of a first-class stamp over the past five years is unfair, a survey has found.

From today, a first-class stamp will cost £1.70, up from 76p in 2020, following eight price hikes, despite Royal Mail failing to meet any of its annual delivery targets in the last five years.

Polling by Citizens Advice revealed that 33 per cent of people would struggle to afford a £13.60 book of eight first-class stamps, while 16 per cent said even a single stamp would be difficult to afford after the latest 5p increase.

The cost of second-class stamps will also rise by 2p to 87p.

Citizens Advice director of policy Tom MacInnes said the unfair price hikes will hit low-income households and older people the hardest, adding: “People from these groups are more likely to be digitally excluded and rely on mail.

“Ofcom must act. The regulator is considering slashing deliveries and relaxing targets but these moves must go hand in hand with a curb on price increases.

“Otherwise, Royal Mail has no incentive, as a monopoly provider, to deliver the service consumers deserve.”

A Royal Mail spokeswoman said the company “carefully considers prices and seeks to keep them as low as possible.”