The price of a stamp will rise by five pence at the end of the month as the Isle of Man Post Office brings in some tariff changes on October 25.

The price of a standard local and UK letter will rise to 67p as some postal product tariffs increase by up to 8%.

The Post Office said they were forced to make the pricing changes ’in light of increased costs owing to Brexit, customs changes, increased fuel and aircraft costs, as well as rising costs for onward delivery into the UK and internationally.’

It continued: ’Traditionally IoMPO brings price changes into effect in the Spring, but this year in light of the uncertainty relating to Covid19 mitigation measures, and in order to support local residents and businesses, the Post Office Board took the decision to defer its annual revision of postal tariffs from April 1 to October 25.

’The changes will see increases of up to 8% to some postal product tariffs, but the prices for ancillary mail products such as redirections, PO Boxes, collections and accelerated delivery services remain unaffected.

’The price of a standard local and UK letter will rise by 5p to 67p yet will remain highly competitive and represents excellent value for money when compared to the UK’s 85p first-class letter price, and equivalent postal service providers throughout Europe.’

Chairman of Post Office Julie Edge MHK said: ’IoMPO tariffs remain good value, and the board is committed to ensuring the quality and sustainability of our services as we continue with our five-year strategy to transform the business. The new prices will help to achieve this and protect the Post Office’s proud self-funding status.’