Canada Post plans to raise stamp prices again to address financial ‘issues’
Global News
Pending approval, the 25-per-cent increase would take effect in January 2025, 'after the busy holiday mailing season,' Canada Post said Friday.
Canada Post says it plans to raise the price of stamps by 25 per cent next January, as the mail carrier seeks to recover from a financial tailspin.
If approved by federal regulators, the cost of stamps purchased in a booklet, coil or pane will increase from 99 cents to $1.24 per stamp. Those stamps account for the vast majority of sales, the company says.
Individual stamps would go up in price from $1.15 to $1.44 for a domestic letter.
Other products, including U.S., international letter-post and domestic registered mail, would also be affected by the rate changes.
Pending approval, the changes would take effect on Jan. 13, 2025, “after the busy holiday mailing season,” Canada Post said Friday.
The price hike is far steeper than the seven-cent increase that took effect in May.
However, Canada Post estimates it will ultimately cost Canadian households an extra $2.26 per year.
The company said the proposed increase accounts for declining letter deliveries, which used to be Canada Post’s main source of revenue but has dropped 60 per cent over the past two decades.
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