Canada Post says higher international and U.S. mail costs will sustain its operations

OTTAWA — A Canada Post spokesperson says the planned increase in the price of stamps is meant to help the Crown corporation become self-sustaining after years of financial losses.

Last week’s federal budget said the price of a single domestic stamp will go from $1.44 to $2 in 2027, with a seven per cent increase in cost each year after.

Jon Hamilton, Canada Post’s vice-president of communications, says the price for U.S.-bound and international letter stamps will also go up but the amount has not yet been decided.

He says this move is an attempt to match the prices consumers are paying with the organization’s operating costs and help repay some of the assistance Ottawa has provided to keep Canada Post afloat.