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HomeNewsCanada Post proposes new postage rates for 2024

Canada Post proposes new postage rates for 2024

According to Canada Post, the cost of a domestic stamp in a booklet, coil or pane will rise to 99 cents, as of May 6. The rate will increase by seven cents. 

“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,” states a recent media release. 

Canada Post, it was noted, 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.” 

While Canada Post has worked to minimize or hold rates for much of the last decade, it was noted, the cost of providing a postal service to all Canadians has also been steadily impacted by inflation. “This, combined with the fact 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 items.  

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