As if the rising cost of groceries wasn’t enough, sending mail is also becoming more expensive.
The trend of increasing postage rates continues unabated.
In 2022, it was announced that postage fees would rise in 2023 due to the hike in Goods & Services Tax (GST) and other escalating costs.
Then, in September of this year, Singapore Post (SingPost) announced that the rate for standard regular mail will increase by 20 cents, jumping from 31 cents to 51 cents.
This marked a significant increase, especially considering that there had only been a 1 cent rise in standard mail rates even when GST increased by 1%.
The reason behind this hike? General rising costs and declining mail volumes.
Ms Neo Su Yin, Chief Executive Officer of SingPost Singapore, mentioned that SingPost had been absorbing inflationary costs and had essentially maintained constant postage rates since 2014.
However, due to intensifying cost pressures and a challenging business landscape, SingPost found it necessary to raise their prices to ensure commercial sustainability and the continuation of essential postal services for the nation.
While the economy is undoubtedly challenging for everyone, this increase might lead to a further decrease in mail volumes, as another hike in postage rates is set to take effect from 2024.
Announced today, 7 Dec, international postage rates are set to increase.
This means both domestic and international mail will see a rise in prices.
This increase is partly due to the progressive rise in international postal settlement rates over the years, as a result of annual fee revisions made by the Universal Postal Union (UPU).
These fees are paid to postal organisations in destination countries for mail delivery.
The UPU, a specialized agency of the United Nations, serves as the primary forum for international cooperation in the postal sector, acting as the “UN” of the postage industry.
Here are the details of the upcoming price increase for international airmail, effective from 1 January 2024:
Zone 1 rates for letters and printed papers will increase to S$0.85 (up from S$0.80) for items up to 20 g; S$1.05 (up from S$1) for up to 50 g; and S$1.45 (up from S$1.40) for up to 100 g.
The rate for every additional 100 g will remain at S$1.10.
Postcards to this zone will now cost S$0.75, up from S$0.70.
Zone 2 mail rates will rise to S$0.95 (from S$0.90) for the first 20 g, with charges for every additional 10 g remaining at S$0.25.
Postcards to zone 2 will now be charged at S$0.85 per piece, up from S$0.80.
For Zone 3, the rate will be S$1.55 (up from S$1.50) for the first 20 g, with no change in the S$0.35 charged for every additional 10 g.
Postcards to this zone will cost S$0.85 each, up from S$0.80.
While the base rates for all types of postage have increased by 5 cents, the additional weight charges for each zone remain unchanged at $1.10, $0.25, and $0.35, respectively.
The weight limits for mail rates to all three zones are capped at 2 kg.
You can check out more details on SingPost’s official website.
