German regulator paves way for big hike in postal charges


BERLIN, April 18 (Reuters) - Germany'sFederal Network Agency has cleared the way for Deutsche Post to significantly increase the cost of sending letters, after the company pledged to hire an extra 5,000 delivery workers.

The agency said that the company could increase prices by 10.63 percent from July 1. It is now up to Deutsche Post to determine how the increase will be applied to various letter sizes, postcards, as well as other services.

Deutsche Post delivers 59 million letters a day in Germany and has a market share of 62 percent. It last increased postage for a standard letter to 70 cents from 62 cents in 2016.

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