TORONTO – Canada Post is proposing an increase in the cost of sending letters by seven cents, bringing the price of stamps purchased in booklets, coils, or panes to 99 cents, which constitute the majority of sales.
The price of individually purchased stamps for domestic letters would rise from $1.07 to $1.15. This adjustment would also affect other products such as U.S. and international letter-post, as well as domestic registered mail.
The proposed rate changes were announced today for public feedback and, pending regulatory approvals, are scheduled to take effect on May 6. Canada Post notes that domestic letter mail rates have only increased twice in the past decade, by five cents in 2019 and two cents in 2020, with the last major pricing adjustment occurring in March 2014.
The agency attributes the proposed increase to significant financial pressures stemming from inflation and a declining volume of mail delivery to an expanding number of addresses each year. It estimates that the average Canadian household would incur an additional 65 cents annually due to this change, while the average Canadian small business would face an extra cost of approximately $12.07.
