Canada Post Is Hiking Their Postage Prices For The First Time In Five Years

This morning, Canada Post delivered some bad news about their 2019 postage rates. In just a few days, domestic stamps in Canada will be more expensive than ever, at $1.05 each. It is Canada Post's first postage price hike in five years. Canada Post announced that as of January 14th, the five-cent increase on single domestic stamps will take effect. 

Canadians can get a deal if they purchase stamps in a booklet, but the cost of each stamp will still go up by five cents. Mail items weighing 30 grams or less will now cost 90 cents a stamp in booklet form, up from their 85-cent price tag.

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Canada Post says that the price hike will also apply to U.S. and international mail destinations, as well as for domestic Registered Mail. An individual stamp for US destination mail is currently $1.20, and $2.50 for a single international destination stamp. Those prices will likely increase by five cents as well. 

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Despite the price increase, Canada Post estimates that the average Canadian family will only be paying less than one extra dollar a year. Meanwhile, small businesses will pay an extra $14 a year for postage, on average.

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Canada Post's 2017 Annual Report reveals that the company lost $124 million in revenue due to the declining popularity of Lettermail.

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The previous postage increase took effect on March 31st, 2014. Canada Post says that Canadians can avoid paying more for their stamps by purchasing Permanent stamps at the current rate before next week's price hike takes effect.