Canada Post stamp prices to increase on January 14

Canada Post has announced the cost for an individual stamp on a letter sent within Canada will jump to $1.05, instead of a loonie, starting Jan. 14.

Other increases for mail within the country range between a dime and 35 cents depending on the size of the letter.

The cost of sending letters to the United States will go up between seven and 20 cents, while overseas mail will need an extra 15 to 20 cents to get there.

The neww rates are the first increase since March 2014.

Canada Post said the increases should generate $26 million a year in revenue for the postal service, of which $11 million will come from consumers and the remaining $15 million from small and medium-sized businesses.

Regulatory text posted online Monday estimates that the new rates will cost the average Canadian household about 65 cents next year.

The average cost for small businesses that use stamps to pay postage will be about $14.21.

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