Canada Post has officially confirmed that starting from mid-January, prices for postage stamps will be increased. The new price will be $1.05.
In addition, the cost of sending letters to the US and other countries will also become higher.
Thus, Canada Post plans to increase the annual budget. The company's budget is significantly reduced year after year because more and more people prefer to send letters using e-mail. According to official data, two times fewer letters were sent in 2018 than in 2006.
"Given the current rate at which letter mail volumes are declining and the other financial pressures faced by Canada Post, it may no longer generate sufficient revenue to meet its service obligations in the future without regular changes in its rate structure," says Canada post representative.
In the fall of this year, the company announced that 2018 is very negative for the company and most likely it will end it with a loss.
We also want to recall that Canada Post workers went on strike in October, which led to a large delay in all letters and parcels. Now the work of the post is stable and there should not be any delays in the holiday letters.