Australia Post welcomes the Australian Competition and Consumer Commission’s (ACCC) interim view that it has no objection to a proposed price increase for reserved ordinary letter services, including a change in the Basic Postage Rate (BPR) from $1.20 to $1.50.
The ACCC has commenced a further round of consultation, which will conclude on Thursday 15 February 2024.
Following the conclusion of the consultation period, and pending no objection from the ACCC, Australia Post will lodge a formal application with the ACCC. Australia Post will provide customers with a minimum of 30 days’ notice of any change ahead of the effective date of any price increase.
Concession and seasonal greeting stamps, which have not changed in price for ten years, will remain at their respective prices of 60 and 65 cents.
Australia’s domestic stamp price is one of the lowest in the OECD and, with this increase, will have risen by just 50 cents in the past seven years.
Currently, less than three per cent of letters are sent by consumers, with the vast majority sent by business and government and this is expected to reduce further as digitisation increases. Of the consumers who do send letters, they only send about 15 letters a year. The proposed increase will cost these consumers an extra $4.50 annually.
The proposed increase will help Australia Post address the rising costs of delivering letters and reduce losses in that part of the business as it continues to deliver for its customers and communities.
As a self-funded business enterprise that receives no government funding, Australia Post is focused on responsibly addressing its financial challenges so it can continue to meet the evolving needs of Australian communities.
ENDS
Media contact:
Tracy Hicks, General Manager Communications, Australia Post
M: 0477 027 860 E: [email protected]
Katherine Perry, Senior Media Manager, Australia Post
M: 0411 247 629 E: [email protected]
About Australia Post: As Australia’s postal service for more than 214 years, we’re at the heart of every community. Last financial year we delivered more than 2.5 billion items to 12.7 million delivery points. Australia Post has one of the largest retail networks nationally, with more than 4,000 Post Offices. Australia Post employs people of all ages, genders, and abilities in our extended workforce of more than 63,000 team members, reflective of the diverse communities we operate in. We are proud to be included in the inaugural Indigenous Employment Index with 3 percent of our workforce identifying as Aboriginal or Torres Strait Islander and we are the largest Australian employer to be certified as a Disability Confident Recruiter.
