Canada Post aims to increase price of stamps; changes would take effect in May

It may soon cost more to send letters in the mail.

Canada Post is aiming to raise the cost of stamps by seven cents, to 99 cents, for stamps purchased in a booklet, coil or pane, which it says account for the majority of sales.

The price of stamps purchased individually would go up to $1.15 from $1.07 for a domestic letter.

Other products, including U.S., international letter-post and domestic registered mail, would also be affected by the rate changes.

The price increases were announced for public comment today and, subject to regulatory approvals, would take effect on May 6.

Canada Post says domestic letter mail rates have gone up twice in the last decade: by five cents in 2019 and two cents in 2020. It says the last "major pricing change" was made in March 2014.

The agency says the proposed price increase comes as it faces "considerable" financial pressure due to inflation and the fact that each year, there are fewer letters to deliver to more addresses.

It says the impact of the change is estimated to be about 65 cents per year for the average Canadian household, and about $12.07 for the average Canadian small business.