Australia Post to increase stamp prices

Stock image.
Stock image.

AUSTRALIA Post has indicated it will increase the price of stamps by 10 per cent, the first increase in four years.

The organisation has lodged a draft notification with the Australian Competition and Consumer Commission (ACCC) seeking an increase in the Basic Postage Rate (BPR) from $1 to $1.10 to apply from January 2020.

Australia Post said the move “reflects a balanced approach to ensuring a sustainable community post service”.

The proposed increase would cost the average household, which regularly sends letters, less than $1.50 per year, and will help keep Post Offices open – including Australia Post’s vital regional and rural network.

It will also keep posties delivering five days a week and ensure Australians everywhere can continue to access these services.

Group Chief Executive Officer and Managing Director Christine Holgate said the 60 cent price of concession stamps would be protected and available to 5.7 million Australians, including pensioners and veterans.

The 65 cent seasonal greeting card stamps will also stay the same.

“In the last financial year, we delivered a profit in-line with that three years earlier. We did this with 820 million less letters delivered to over 700,000 more homes,” Ms Holgate said.

“Our posties deliver to more than 12.1 million addresses across the country. It doesn’t matter if they have one letter or 100 for the address, they still need to drive past the letterbox each day.

“Last year our letters business lost $190 million – this is after the benefit of significant efficiency savings. It is important that we responsibly address pricing if we are to protect this important service and keep our network of community post offices open.”