We could soon be paying more for our postage stamps, with Australia Post moving to increase the cost of posting a letter from $1.00 to $1.10.
Under Australia Post’s proposal, which was submitted to the Australian Competition and Consumer Commission this week, the price of delivering ordinary large letters would also increase by 10 per cent.
The price of priority labels for delivering ordinary letters at the priority timetable would remain unchanged at 50 cents, whilst the price of concession stamps will still cost 60 cents and the price of posting a Christmas card will be 65 cents.
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“In assessing these proposed price increases, we will consider various issues including trends in the postal industry and whether Australia Post has adequately explored efficiency improvements before increasing its letter prices,” ACCC Commissioner Cristina Cifuentes said.
“We will welcome submissions on this proposal and will take into account the views of industry stakeholders, consumers and Australia Post itself.”
Under the Australia Post price notification framework, the ACCC does not have the role of approving the proposed price increase.
Rather, the ACCC is required to assess the proposed price increase and then notify Australia Post on whether it objects to the proposed price increase.
“In addition to the ACCC’s assessment, Australia Post must give written notice to the Minister for Communications of its intent to vary its rates of postage,” the watchdog said.
“Australia Post may increase the basic postage rate only if the Minister does not disapprove the proposed increase to the basic postage rate within 30 days.”
The last time the price of stamps increased was in 2016, when they went up from 70 cents to $1.