Canada Post announced a 25% increase in stamp prices, justified as necessary to align costs with the rising expense of letter mail service for all Canadians.
The increase will raise the price of stamps to $1.24 each and is expected to bring in approximately $80 million in additional revenue by 2025, but experts doubt its effectiveness.
Since 2018, Canada Post has reported millions in losses and warns it could run out of money within a year, amid a struggling Canadian postal service market.
Residents express concern over the rise in stamp prices, noting it may disincentivize sending mail, as Canada Post faces challenges retaining its share of the parcel market.
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