Canada Post is increasing postage rates effective today.
For stamps purchased in a booklet, coil or pane, which represent most stamp sales, the rate increases by 25-cents, to $1.24 per stamp.
The price of a single domestic stamp increases to $1.44, up from $1.15.
Today's rate change represents a one-time increase of about 25%, which is required to better align stamp prices with the rising cost of providing letter mail service...
Canada Post says every year there are fewer letters to deliver to more addresses, which adds significant cost pressures to the Corporation on top of continued inflationary pressures.
For the average Canadian household, the estimated impact of the rate increase is $2.26 per year.
For the average Canadian small business, the estimated impact is $42.17 annually.