Canada Post raises the price of stamps by 25%

Canada Post is raising the price of stamps, starting today.

 

Stamps purchased in a booklet, coil or pane will cost 25 cents more at $1.24 per stamp. The price of a single domestic stamp is now $1.44, up from $1.15.

 

The corporation proposed the hike in September, estimating it would generate about $80 million in additional gross revenue in 2025.

On Monday, it called it a “one-time” increase of roughly 25 per cent.

 

“Every year, there are fewer letters to deliver to more addresses, which adds significant cost pressures to the Corporation on top of continued inflationary pressures,” reads the Canada Post news release.

 

“For the average Canadian household, the estimated impact of the rate increase is $2.26 per year. For the average Canadian small business, the estimated impact is $42.17 per year,” reads the release.

 

 

 

 

This article was first reported by CTV News