An Post's CEO has defended the latest increase to stamp prices.
David McRedmond says the postal industry has been facing "hyper-inflation" due to the soaring cost of transport and energy.
He was speaking it was confirmed the price of stamps is increasing by more than double the national rate of inflation.
From next month, a standard stamp will cost 15 cent more - selling at €1.25.
International stamps will rise by 20 cent to €2.20.
The 14% price hike comes at a time when general inflation is at a 20 year high, at 5.5%.
David McRedmond, CEO of An Post, told Newstalk Breakfast that he "hates putting up prices" but suggested there was no alternative this time.
He said: "There’s just hyper-inflation in the postal industry globally. If you look at the input prices… transport’s up 18%, energy’s up 27%.
“International air freight is up 340% - that’s because there are far fewer planes flying as a result of the pandemic. They’re still not back to normal patterns yet.”
He said An Post has also faced increased costs to help postmasters during the pandemic, as well as the millions spent on new customs infrastructure post-Brexit.
However, he stressed that overall price increases have been 5% across the postal service generally - suggesting that’s “in line with inflation”.
An Post last increased stamp prices in early 2021, after previously deferring that increase due to the pandemic.
