Australia Post hikes prices as consumer watchdog steps aside The changes come into effect from September.2 min read

7NEWS

Jul 29

The cost of sending a letter with Australia Post will soon cost more after the Australian Competition and Consumer Commission (ACCC) decided not to step in.The ACCC announced on Wednesday that it ...

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The ACCC had no decision over those increases.Australia Post customers can expect to pay more to send letters from September 1. Credit: Dan Himbrechts/AAP“Australia Post is getting closer to covering its costs for reserved letter services due to recent price increases and changes to Australia Post’s delivery model,” Brakey said.“In response to recent ACCC recommendations aimed at increasing cost transparency, Australia Post has also made improvements to how it allocates costs between reserved letter services and the competitive parts of its business.”Be the first to know: Add 7NEWS as your preferred news source on GoogleAustralia Post estimates the change will add about 75 cents to the annual postage costs of the average household.But the ACCC noted the increase will particularly impact businesses, with those costs likely to be passed on to customers.“The ongoing decline in letter volumes has now reached levels not seen in Australia since the late 1930s,” Australia Post said.“Today, fewer than 3 per cent of letters are sent by consumers, with the majority mailed by businesses and government agencies. The ACCC decided not to refuse the proposed price increase as Australia Post tries to recoup annual losses due to a declining customer base. Credit: AAP“As customers and businesses increasingly shift to digital alternatives, letter volumes continue to fall. “Australia Post is not alone in facing this challenge, with this letter decline being experienced by international postal operators worldwide.”It noted the price of seasonal greetings and concession postage stamps will remain unchanged. The annual limit to how many concession stamps can be bought has also been increased from 50 to 75.Veteran postie loses job after KFC lunch break4 min readThe bank error costing homeowners millions2 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"express","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}