Price of stamps in Isle of Man to rise by 2p

The price of postage stamps will rise in the Isle of Man because of "rising costs for the business", the Post Office has said.

From 4 April, the price of local stamps will increase by 2p to 37p, and those for sending standard letters to the UK will also rise by 2p, to 38p.

The cost of other services including Special Delivery and Airmail letters will also increase.

The Post Office said its rates would remain among the lowest in Europe.

The price of some services will remain unchanged including many Parcelforce services, Keepsafe and local to local parcels.

Letters and parcels under 2kg being sent to the Armed Forces serving abroad will remain free.

Chairman of Isle of Man Post Office Alan Crowe said: "We are fighting to contain costs as much as we can and therefore our increase is as low as was possible.

"Royal Mail is increasing its stamp prices by 5p and we are only increasing ours by 2p.

"An increase illustrates the need for our core business to counteract the current fall in volume at a loss of £1m per year."