Canada Post is seeking approval to increase the price of a domestic stamp in a booklet, coil or pane from 92 to 99 cents.
The proposed rate changes would also affect other products, including U.S., international letter-post and domestic Registered MailTM items. The price of a single stamp for a domestic letter (30 grams or less) would increase from $1.07 to $1.15. When purchased in a booklet, coil or pane, the price would increase from 92 cents to 99 cents per stamp.
The new rate would take effect this May 6.
According to Canada Post, domestic letter mail rates have increased twice over the last decade (five cents in 2019 and two cents in 2020), with the last major pricing change on March 31, 2014.
Canada Post says the rate increase will impact the average Canadian household at 65 cents per year and the average Canadian small business at $12.07 per year. PermanentTM stamps will always be accepted at the current domestic postage price.
“While the Corporation has worked to minimize or hold rates for much of the last decade, the cost of providing a postal service to all Canadians has also been steadily impacted by inflation,” states a Canada Post news release. “This, combined with the fact that each year there are fewer letters to deliver to more addresses, has put considerable financial pressure on Canada Post. As an organization funded by revenue from the sale of its products and services, not taxpayer dollars, rate changes are a reality.”
The proposed rates were published today in Part I of the Canada Gazette for public comment. Subject to regulatory approvals, they would take effect on May 6, 2024.