Isle of Man Post Office (IOMPO) announces the price of a standard local and UK letter will rise to 57p with effect from 8th April 2019.
The 5p increase still represents excellent value for money and the Isle of Man will continue to be the cheapest 'First Class' letter rate in the United Kingdom and Channel Islands*, and among the best value in Europe.
*Postage comparison table
|Postal Administration||2018/19 UK destined letter rate||2019/20 UK destined letter rate|
|Isle of Man Post Office||52p||57p|
|Royal Mail – 1st Class||67p||70p|
|Jersey Post||65p||To be announced|
IOMPO is pleased to continue to offer family and friends a free postage service to any British Forces Post Office address when sending standard letters and packets of up to 2kg.
The price updates are in-line with IOMPO's five-year strategy and will enable the business to improve its financial position, offsetting increased operational costs, many of which are outside its control and declining postage volumes, which for 19/20, is forecast at 8.8%.
The headline price changes are as follows:
• 5p increase to the IOM & UK Letter price from 52p to 57p
• Strategic increases across weight bands on Large Letter & Packet prices to bring more into line with equivalent UK First Class mail services pricing
• Up to 5% increase on Special Delivery express services, 1%-2% on other services in the lower weight bands and no increase in the upper weight bands
• Average 5% increase in International Letter, Large Letter & Packet pricing, with some higher increases in lower weight bands
• A general increase of 4% on ancillary services
Julie Edge MHK, Chairman of Isle of Man Post Office, said: 'It's always regrettable to increase prices for our customers, however with mail volumes continuing to decline and an increase in overall operational costs it is inevitable. We remain very proud of the services we provide to up to 40,000 addresses a day. It is essential that the Post Office remains self-funding and does not look to Government for a subsidy. Our five-year strategic business case is vital to the business's long term future in continuing to be an employer of choice and protecting local jobs, service and our proud self-funding status and the new prices will help to achieve this.'