Price of stamps to increase March 31

A pair of mailboxes on the property of the Canada Post distribution centre on Wednesday, Dec. 11,...

A pair of mailboxes on the property of the Canada Post distribution centre on Wednesday, Dec. 11, 2013 on Rye St. in Peterborugh, Ont. Clifford Skarstedt/QMI AGENCY

QMI Agency

, Last Updated: 2:00 PM ET

A tiered pricing system for stamps, announced by Canada Post in December, will go into effect on March 31.

Under the new pricing system, purchasing individual stamps will cost more than buying a booklet or coil of stamps, a press release stated.

Permanent stamps bought in a booklet will cost 85 cents, up from 63 cents, but previously purchased stamps will still be accepted, the release stated. For 63-cent stamps, a 22-cent stamp will be available to cover the price difference.

Canada Post says this increase will cost the average household less than $5 per year.

A single stamp will cost $1 as of March 31, Canada Post says this represents only 2% of stamp purchases.

Canada Post is also adjusting prices for businesses.

The national postal service said these adjustments were necessary because of the declining volumes of letter mail.


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