Canada Post proposes new postage rates for 2024

 Price of a domestic stamp in a booklet, coil or pane would rise to 99 cents  

OTTAWA, ON, Feb. 9, 2024 /CNW/ - Canada Post is proposing to increase postage rates in 2024. For stamps purchased in a booklet, coil or pane, which represent the majority of stamp sales, the rate would increase by seven cents, to 99 cents per stamp. The new rates would take effect May 6, 2024.

Prior to these proposed changes coming into effect, domestic letter mail rates have increased twice over the last decade (five cents in 2019 and two cents in 2020), with the last major pricing change made on March 31, 2014.

Minimizing the impact

Canada Post understands the importance of the delivery service it provides and works to minimize the impact of price changes on all customers, ensuring any increases are fair and reasonable. The impact of the rate increase for the average Canadian household is estimated at 65 cents per year. For the average Canadian small business, the estimated impact is $12.07 per year.¹ Permanent^TM stamps will always be accepted at the current domestic postage price.

Small businesses looking for support or special discounts on shipping and other services are encouraged to sign up for the free Canada Post Solutions for Small Business™ program. 

Growing financial pressures on the postal system

While the Corporation has worked to minimize or hold rates for much of the last decade, the cost of providing a postal service to all Canadians has also been steadily impacted by inflation. This, combined with the fact that each year there are fewer letters to deliver to more addresses, has put considerable financial pressure on Canada Post. As an organization funded by revenue from the sale of its products and services, not taxpayer dollars, rate changes are a reality. 

The proposed rate changes would also affect other products, including U.S., international letter-post and domestic Registered Mail^TM items. The price of a single stamp for a domestic letter (30 grams or less) would increase from $1.07 to $1.15. When purchased in a booklet, coil or pane, the price would increase from 92 cents to 99 cents per stamp.

The proposed rates were published today for public comment in Part I of the Canada Gazette. Subject to regulatory approvals, they would take effect May 6, 2024.

1.     Estimate based on average annual spending of businesses and households.

SOURCE Canada Post

Media Relations, [email protected], 613-734-8888