Canada Post aims to raise stamp prices; the changes will take effect in May

Mailing letters may soon become more expensive.

Canada Post aims to raise the cost of stamps by seven cents to 99 cents for stamps purchased in booklets, rolls or panels, which it says make up the majority of sales.

The price of individually purchased stamps will increase from $1.07 to $1.15 per domestic letter.

Other products, including US, international mail and domestic registered mail, will also be affected by the rate change.

The price hike was announced for public comment today and will take effect on May 6, subject to regulatory approval.

Canada Post says domestic letter rates have doubled over the past decade: to five cents in 2019 and two cents in 2020. It says the last “major price change” was in March 2014.

The agency says the proposed price hike comes as it faces “significant” financial pressure from inflation and fewer letters being delivered to more addresses each year.

It estimates the impact of the change to be about 65 cents a year for the average Canadian household and about $12.07 for the average Canadian small business.