Canada Post is hiking its postage prices today. What does that mean for its future? [Video]

Canada Post is raising the cost of stamps and its other mail products by 25 per cent today, a move announced in September, well before a 30-day labour strike further challenged the organization’s already dire financial situation.

Experts say the price increase will be both risky and ineffective.

The Crown corporation says that stamps purchased in a booklet, coil or sheet — which make up the majority of stamp sales — will now cost $1.24 each, up from $0.99. Such price increases receive legislative approval in advance.

A spokesperson said that the change “is required to better align stamp prices with the rising cost of providing letter mail service to all Canadians.” Canadian stamp prices are some of the lowest in the world, the spokesperson added.

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