The Royal Mail has said that it will have to raise prices for customers and cut costs amid the growing cost of living crisis.
After it was confirmed by the Office for National Statistics (ONS) yesterday that UK inflation has now risen to 9% – which is the highest the figure has been for the last 40 years – with prices hiked across a broad range of everyday goods and services during April, the Royal Mail has issued a statement this morning warning that it sees “significant headwinds” from rising costs – including wages, energy, and fuel.
In an attempt to bolster its position, the postal and courier service revealed that it aimed to make cost savings of £350 million over the course of its current financial year.
Today’s statement on price rises comes after the group already notably hiked the cost of posting letters by an average of around 7%, and parcel prices by an average of about 4% – which took the cost of a first-class stamp to 95p, and a second-class stamp to 68p.
But the Royal Mail says it still sees numerous threats from rising costs ahead, and claimed that it is now at a “crossroads”.
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The Royal Mail has said that it will have to raise prices for customers and cut costs / Credit: Geograph | Royal Mail
Explaining the current situation in its most-recent results statement, the Royal Mail said: “We are now at a crossroads.
“We need to deliver the benefits from change more quickly to deliver sustainable growth. We have made significant operational change already, but this needs to translate into real efficiency savings which deliver a financial benefit next year and beyond.
“Delivery of our existing agreements and the successful transition into the next agreements, as part of the current negotiations with the CWU, will be key to future profitable growth. We have made a substantial pay offer to our people which will enable the change we need to remain competitive, grow and secure their jobs for the future.
“Our market is changing quickly, and agility in our response is key.”
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The UK’s largest postal and courier service claimed it’s now at a “crossroads” / Credit: Royal Mail
Speaking more on the need to raise prices and cut costs going forward, Simon Thompson – Chief Executive at the Royal Mail – added: “As we emerge from the pandemic, the need to accelerate the transformation of our business, particularly in delivery, has become more urgent.
“Our future is as a parcels business, so we need to adapt old ways of working designed for letters and do it much more quickly to a world increasingly dominated by parcels.”
He added: “Our focus now is to work at pace with our people and our trade unions to reinvent this British icon for the next generations, so that we can give our customers what they want, grow our business sustainably and deliver long-term job security for our great team.
The funds will help improve the already incredible music scene in Manchester, benefitting staples likes Night and Day Café, Matt and Phred’s Jazz Club, SOUP and more.
All of the donations will be distributed across six independent music venues and will be used for various instruments, PA equipment, backline technology and other necessities depending on the requirements of each site.
Elbow have teamed up with Co-op Live in aid of supporting Manchester grassroots venues.Credit: Supplied
This initiative has been keeping Manchester’s Northern Quarter in the forefront of people’s minds when it comes to live music as well as the impressive Co-op Live.
Alongside providing vital resources for these local institutions, Elbow teaming up with Co-op Live also helps cement the North West as one of the main powerhouses in relation to live music.
The latest efforts from the largest indoor arena in Manchester fall in line with celebrating one year of bringing some of the best live music to the city, being officially open for 12 months in May.
Co-op Live have made a commitment to the people and the planet, promising to donate £1 million annually to the Co-op Foundation.
The stunning Co-op Live venue, Manchester’s largest indoor arena.Elbow performing at Co-op Live, marking history as the first act to grace the venue.Credit: Audio North/Supplied
Manchester’s latest live music venue also contributed significantly to selected charities, including Happy Doggo – chosen by Liam Gallagher and Eric Clapton’s addiction recovery centre, Crossroads.
As Elbow teams up with Co-op Live, even more money is making its way to necessary resources, this time in the likes of crucial live music establishments.
Elbow front-person Guy Garvey says: “Playing Co-op Live’s opening night will stay with us for a lifetime, not least because of how incredible the room sounded.”
“When the venue donated funds in our name to support the city we love, it made complete sense to carry that through to the Northern Quarter and to venues that have meant so much to my bandmates and I throughout our career.”
Guy Dunstan, Senior Vice President and General Manager, Co-op Live, adds: “In the past year, I have been proud to see Co-op Live become an integral part of such an incredible city.”
“Teaming up with Elbow to directly support the venues that first put Manchester on the map, and to share something so intrinsic to us as venues – proper sound – is something truly special.”
Police launch investigation after a 19-year-old is stabbed in broad daylight at an Oldham retail park
Emily Sergeant
A police investigation has been launched after a stabbing in a ‘very public place’ in Oldham yesterday afternoon.
Greater Manchester Police (GMP) explained that officers were called out to Alexandra Retail Park in Oldham yesterday afternoon ( Sunday 30 March 2025) at 3:25pm, and when they arrived on the scene, they found that a 19-year-old man had been stabbed.
The victim was taken to hospital with ‘serious injuries’, and GMP assures that he and his family are being supported at this time.
A scene remains in place at the retail park and some of the surrounding areas while the investigation is ongoing, and a large police presence can also been seen too as officers continue to collect evidence and piece together the events of what happened.
Police also believe the attack to be an ‘isolated incident’ with those involved known to each other, indicating no threat to the wider public.
“We understand this incident is shocking and took place in a very public space,” commented Inspector Andrew Clayton.
“There have been no arrests so far, but enquiries are ongoing to determine who is responsible. At this stage, we do believe the attack to be an isolated incident involving those known to one another.”
Alexandra Retail Park, where the incident occurred yesterday afternoon / Credit: Google Maps
In a bid to gather as much information as possible, a public police appeal has been made.
Inspector Clayton continues: “We have spoken to a number of witnesses so far, but would encourage anyone who believes they have any information or dash cam footage which could assist our investigation, particularly that which may help us identify the perpetrators, to come forward.”
Anyone with any information is asked to contact GMP on 101, quoting log 1757 of 30/03/25, or by getting in touch with Crimestoppers anonymously on 0800 555 111.
Emily Sergeant -
19th May 2022 
