The price increases will range from a jump of 3.5 per cent to 9.95 per cent,depending on the product category.
With the federal government currently conducting a review into its long-term viability,Australia Post has made no secret of the headwinds threatening to topple the business.
The biggest headache for Australia Post is its letters business,which recorded a half-year loss of $189.7 million in the six months to December. The overall business will record a loss this financial year for the first time since 2015.
Australia Post chief executive Paul Graham has previously told this masthead that the boom in e-commercewould not be enough to turn Australia Post’s fortunes around,given the fixed costs of the letters business were so significant.
Australia Post executive general manager of post,parcel and e-commerce services,Gary Starr,said on Friday that the carrier was also on the receiving end of soaring costs of doing business.
“We are an entirely self-funded business,and we are playing in a highly competitive market,with global multinationals and private equity players,” he said when discussing the price changes.