Royal Mail to raise prices cut costs to cope with soaring inflation


Royal Mail has said it will need to rise prices and cut costs in the face of soaring inflation.

The company warned that it sees “significant headwinds” from rising costs including wages, energy and fuel.

Royal Mail revealed that it aimed to make cost savings of £350m over the course of its current financial year in an attempt to bolster its position.

Inflation hit its highest level in 40 years yesterday amid the deteriorating cost of living crisis.

The cost of a first-class stamp currently stands at 95p and a second-class stamp costs 68p.

Articles You May Like

GOP lawmaker says Trump was wrong and won’t support him in primary
Aqua superPower turns on its first marine fast charger in US
Adele ‘thrilled’ as she performs her first UK gig in five years
WorldRemit becomes latest fintech to slash jobs as outlook darkens
Elliott needs nearly 7 hours to win at Nashville