Canada Post states that its regulated mail rates have remained low for a decade, but a proposed one-time increase is necessary to align prices with the rising costs of providing mail services.
The volume of letter mail has dropped by 60 percent over the past two decades, with the average household receiving only two letters per week in contrast to seven letters in 2006.
Amidst fierce competition in parcel delivery and diminishing letter volumes, Canada Post reported significant financial losses, totaling $3 billion before taxes from 2018 to 2023.
If approved, the increase in stamp prices would generate an estimated $80 million in additional gross revenue in 2025, aiming to address Canada Post's unsustainable financial situation.
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