The Australian Competition and Consumer Commission (ACCC) declared today it will not oppose the 13.3 percent price rise by Australia Post, which is set to be implemented from July 17.
According to the new pricing structure, the basic postage rate for small letters will increase from $1.50 to $1.70, ordinary large letters (up to 125g) will rise from $3 to $3.40, and the largest letters (up to 250g) will go from $4.50 to $5.10.
“Our final decision suggests that Australia Post should explore ways to ease the cost burden for businesses, particularly those that are required to send physical mail,” Brakey added.
“Further we made recommendations to address a number of other concerns expressed by stakeholders during consultation.
“We are especially mindful of the impact price changes can have on vulnerable Australians, and so our decision paper recommends that Australia Post increases the number of concession stamps per customer, which is currently capped at 50 per year.”
Brakey noted the price increase of $1.70 for a single postage stamp is still below the median price of $1.93 for private postal operators.
Australia Post first proposed the price hike in November last year.
While the consumer watchdog did not have the authority to approve the proposed increases, it can object to the plan.
Unless rejected by the federal minister for communications, stamp prices are expected to increase from July 17.
