What's happened
Royal Mail announces another price hike for first and second-class stamps to address losses and declining demand for letters.
Why it matters
The price increase is significant as it reflects the challenges faced by Royal Mail due to reduced letter volumes and increasing costs.
What the papers say
The Times reports that the price of first-class stamps will rise by 10p to \\u00a31.35 and second-class stamps will increase by 10p. The Independent mentions that a year ago, a first-class stamp cost 95p before being hiked to \\u00a31.10. BBC News highlights that this will be the fourth increase in two years for first-class stamp prices.
How we got here
Royal Mail has been struggling with poor service and falling demand for letters, leading to losses of nearly \\u00a3750 million over the past 18 months.
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