Cost of stamps could rise from 70 cents to $1

The cost of Australia Post's services are going up. Do you still send letters?
The cost of Australia Post's services are going up. Do you still send letters? Kevin Farmer

THE price of a standard postage stamp could rise from 70 cents to $1 and mail will take longer to arrive.

Communications Minister Malcolm Turnbull is set to announce that Australia Post will introduce a two-speed mail service, which would take two to three days to deliver regular mail and charge a premium for next-day delivery, the ABC reported.

Mr Turnbull will also set out a plan for Australia Post to lodge an application with the Australian Competition and Consumer Commission to increase the price of a stamp from 70 cents to $1.

The ACCC could knock back the application.

A 60 cent stamp price will remain in place for pensioners and commonwealth concession card holders, and Christmas cards will still cost 65 cents to send.

Last week, the service announced a 56 per cent dive in its first half profits, with losses due to letters delivery doubling to more than $150 million.

On January 30, Australia Post announced changes to pricing, to come into effect yesterday, including:

  • selected domestic Parcel Post and Express Post products and services
  • selected business bulk mail letter products
  • Mail Redirection & Mail Hold
  • after hours transport collection
  • selected packaging products

At the time, Australia Post said there would be "no price change to the basic domestic letter rate (70 cents)".

Topics:  australia post editors picks stamps

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