Canada Post To Hike Rates On Monday

Come Monday, Canadians will have to shell out a little more capital to mail a letter.

Canada Post says the cost of sending a first-class letter within the country will rise to 57 cents from 54.

Letters to the United States will cost $1.00 – an increase of two-cents – and letters to all other foreign countries will rise by five-cents to $1.70.

Canada Post says it currently delivers to about 15 million addresses across the country, with an additional 200-thousand being added each year.

The Crown corporation says delivering to those additional addresses boosted operating costs by $26 million in 2008 alone.

Canada Post says its mail-processing equipment is now stretched to the limit, and it needs to invest in some new machinery.

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