OTTAWA — sa¹ú¼Ê´«Ã½ 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.
sa¹ú¼Ê´«Ã½ 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, sa¹ú¼Ê´«Ã½ 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.
sa¹ú¼Ê´«Ã½ 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.
This report by The Canadian Press was first published Sept. 6, 2024.
The Canadian Press