Mailing a letter costs a little more now as stamp price hike takes effect

The cost of stamps purchased in a booklet, coil or pane is now 99 cents per stamp, an increase of seven cents.

The price of a single domestic stamp is now $1.15, up from $1.07.

The cost increases come after Canada Post reported a loss for 2023 on Friday and warned that without changes it expects larger unsustainable losses in future years.

It said its loss before tax amounted to $748 million for 2023 compared with a loss before tax of $548 million in 2022. 

Canada Post said the results were hurt by a post-pandemic surge in parcel delivery competition, the ongoing decline in transaction mail and continued growth in addresses and delivery costs.

This report by The Canadian Press was first published May 6, 2024.