Stamp Hike May Be Coming
CBJ — Canada Post is proposing a rise in the price of stamps by two cents to 92 cents — if purchased in a sheet of stamps. The cost for a single stamp would remain at $1.07.
The Crown corporation says it expects the average cost to Canadians would be about 26 cents a year and the cost to businesses would be about $6.
If approved, the new rates would take effect Jan. 13, 2020.Last year, Canada Post delivered about three billion pieces of mail, a 44% decline from a peak in 2006, though that’s partly because of major work stoppages in the fall related to a labour dispute.
Meanwhile, an average of 174,000 new addresses are added in Canada each year, requiring Canada Post to deliver to more places.
The result, the Crown corporation says, is a drop in revenue with a before-tax loss of $270 million in 2018 compared to a profit of $76 million in 2017.
Increasing postage rates would generate $9 million in gross revenues according to forecasts by Canada Post.