The Canada Post logo is seen on the outside the company's Pacific Processing Centre, in Richmond, B.C., on June 1, 2017. Canada Post says it's proposing an increase of regulated postage rates for 2025.
Image Credit: THE CANADIAN PRESS/Darryl Dyck
September 08, 2024 - 9:00 AM
OTTAWA - Canada Post is proposing an increase to regulated postage rates next year, bringing the price of most stamps up by 25 cents to $1.24.
The organization says it's kept letter mail rate increases to a minimum over the past decade and the one-time increase would help align stamp prices with the rising cost of providing the service.
Canada Post says letter mail volumes have decreased by 60 per cent over the last two decades while the number of addresses to serve has gone up.
In August, Canada Post's board chair said its financial situation was unsustainable as it deals with not only lower letter volumes but also more competition in parcel delivery.
Canada Post says that if approved, the new rates would take effect on Jan. 13 after the holiday mailing season.
It says the new rates would generate about $80 million in additional gross revenue in 2025.
News from © The Canadian Press, 2024