Canada Post receives regulatory approval to raise postage
rates
OTTAWA,
ON, May 6, 2024 /CNW/ - Canada Post's proposed
postage rate increase takes effect today. For stamps purchased in a
booklet, coil or pane, which represent most stamp sales, the rate
increases by seven cents, to
99 cents per stamp. The price of a
single domestic stamp increases to $1.15, up from $1.07.
Prior to these changes coming into effect, domestic letter mail
rates 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.
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.
Regulatory approval of new
rates
Changes to Canada Post's regulated letter mail rates are made
according to the regulatory process outlined in the Canada Post
Corporation Act. The proposed rate changes were published in
the Canada Gazette in February
2024 and received final regulatory approval in April. As an
organization funded by revenue from the sale of its products and
services, not taxpayer dollars, rate changes are a reality.
Canadians can continue to use their
Permanent™ stamps, which will always be accepted at
the current domestic postage price. The rate changes also affect
other products, including U.S., international letter-post and
domestic Registered Mail™ items. Commercial price
changes, also effective today, correspond to the regulated letter
mail rate increase.
™ Trademark of Canada Post Corporation.
SOURCE Canada Post