Sending a letter could cost a little more next year as Canada Post has proposed a price hike on stamps.
In a news release, the Crown corporation stated that the majority of stamp sales (which are sold in a booklet, coil, or pane) would increase by 25 cents, from 99 cents to $1.24 per stamp.
For a domestic letter (30 grams or less), the price of a single stamp would jump from $1.15 to $1.44.
Canada Post outlines reasons for proposed change
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Canada Post said this rate hike would be a one-time increase “which is required to better align stamp prices with the rising cost of providing letter mail service to all Canadians.”
It outlined a few reasons behind the proposal, noting that letter mail volumes in Canada have declined by 60% over the past several years, from 5.5 billion in 2006 to 2.2 billion in 2023.
In 2006, the average Canadian home received approximately seven letters a week, and that number dropped drastically to two per week in 2024.
“Every year, there are fewer letters to deliver to more addresses, adding significant cost pressures to the Corporation on top of continued inflationary pressures,” stated Canada Post.
“At the same time, Canadian stamp prices have remained among some of the lowest internationally.”
How much would the increase impact Canadians?
The Crown corporation added that the proposed price change is estimated to have an impact of $2.26 for the average household and $42.17 per year for Canadian small businesses.
“Permanent stamps will always be accepted at the current domestic postage price,” it stated.
The proposed rate changes would also impact other services such as US, international letter-post, and domestic registered mail items, with a corresponding increase of about 25 percent on average.
Commercial letter mail rates follow regulated rates and would also see an increase of about 25 cents.
If the stamp fee increase is approved, the change will come into effect on January 13, 2025.