Price hike on postage stamps

The International letter stamp price will increase from €2.20 to €2.65.

The national stamp will increase by 25c from €1.40 to €1.65 on Thursday February 27 for personal customers.

The same rate will apple to business users as of March 1.

An Post said the increase is "in line with global trends" and below the EU and UK benchmark of €1.88 for a next day letter service.

The price changes come as An Post face wage increases for postal staff in line with national pay award, increased operating costs and declining letter volumes.

The company also said they are investing in "emission-free" postage and collections, investment "all from An Post's own resources."

An Post state that the numbers of letters being posted has declined over 8% in the last 12 months, 40% since 2017 and 50% in the last decade.

The national Letter service runs on a "fixed network" which "enables next-day delivery anywhere in the State for a uniform price."

They state the cost of the network is driven by the number of homes in the State (which is increasing) while revenue is determined by the volume of letters and price.

"As the volume decreases the price has to increase," An Post said in a statement.

SMEs can avail of a €1.55 national stamp rate through the An Post Advantage Card - a discount of 6%. The International letter stamp price will increase from €2.20 to €2.65.

David McRedmond, CEO of An Post said that An Post’s priority is to "provide a world-class service for the people and businesses of Ireland."

"To do this we need to be aligned with global postal trends that see large price increases to compensate for falling volumes due to e-substitution.

"An Post remains entirely self-financed (having repaid a Government loan in full in 2024).

"While we manage the decline in postal, An Post is also investing heavily in the parcel and eCommerce business which is growing rapidly," he stated.