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Australia Post to raise the price of stamps

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Australia Post wants to raise the price of stamps by 10 per cent in a bid to keep regional and rural post offices open.

They have asked the ACCC to consider their proposal to raise the basic postage rate from $1 to $1.10.

This would be the first change to the postage rate since 2016 after Australia Post’s letters business lost $190 million last year.

Australia Post CEO Christine Holgate tells Ross Greenwood they haven’t changed their prices in four years.

“If you don’t address your pricing… four-years is a long time, I’m sure your electricity bill at home’s gone up a lot in that period of time.

“We just closed this financial year with the same profit as three years ago, but with 820 million fewer letters but delivering to 700,000 more homes.”

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