Australia Post will increase the costs of postage stamps to 60 cents, with the Australian Competition and Consumer Commission (ACCC) not objecting to the increase.
Australia Post had previously tried to increase postage stamp costs from the current 55 cents to 60 cents last year, but was rejected by the ACCC with concerns that Australia post had not proven its case and that costs should have dropped due to the GFC. Australia Post then made another attempt to increase prices in April, which initially was ‘concerning’ for the ACCC, but after review Australia Posts’ case has passed the ACCC’s scrutiny and 60 cent stamps will come into effect from the 28th of June this year applying to Small, Large and PreSort letter services..
The ACCC has statutory powers to assess proposed Australia Post price increases in areas where it has a monopoly: mail collection, mail distribution and the issue of postage stamps.
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