Jersey Post sets out price freezes and hikes for 2024

Monday 18 December 2023

Jersey Post has announced an 8.6% increase in postal tariffs for next year, as the provider readies itself for a predicted 13% decline in outbound mail.

However, it has frozen its local and UK stamp prices at 60p and 98p for another year with the aim of "minimising the impact on our customers".

The price changes reflect the "internal and external cost pressures" that the provider continues to face, including a steady decline in outbound mail and increased operating costs.

From 8 January 2024, stamps for local letters and UK, Isle of Man and other Channel Islands letters (of 100g) will still cost 60p and 98p respectively.

However, stamps for European letters will increase 30p to £2.15 and 'Rest of the World' letter will increase 40p to £2.95.

Pictured: Jersey Post released a statement setting out the new stamp prices for 2024.

Julie Thomas, Managing Director of Postal and Logistics, said: "Our annual price changes try to combat some of the challenges we face as a business in a declining market.

"Despite this, we are still committed to minimising the impact on our customers and, therefore, have taken the decision not to increase 100g letter formats locally and to the UK.

"In 2021, local mail pricing was held to support Islanders during the pandemic. In 2022, we only increased prices by 3.5% and last year by 7.9%. This year, there is an 8.6% increase, which is driven by our increased cost base but still below the current inflation rate of 10.1%."

Jersey Post further explained that it is forecasting a decline in outbound mail of around 13% for 2024, which will lead to a decline in income.

From January, postal charges levied on Jersey Post by Royal Mail and other European and Worldwide postal authorities are also set to significantly increase.

There are no price changes to Jersey Post's premium postage services, and business customers and those using the online postage portal continue to benefit from discounted postage rates.