Deutsche Post Requests Approval for Postage Rate Increases

By Patrick Costello

Deutsche Post AG (DPW.XE) said Monday that it has requested approval to introduce new prices for postage rates and other services as of next month.

The German postal company said it filed an application with the Federal Network Agency, Germany's national utilities regulator, to increase the price of standard domestic letters of up to 20 grams to 80 European cents (89 U.S. cents), up from EUR0.70 currently, following three years of price stability.

Other changes Deutsche Post has requested include raising the price of compact letters to EUR0.95 and of large letters to EUR1.55, it said. The price of postcards would increase for the first time in 15 years to EUR0.60 from EUR0.45.

Deutsche Post said it expects the Federal Network Agency to approve the changes in June. The new prices would come into effect on July 1, 2019, and apply until December 31, 2021.

Certain additional and cross-border mail services such as standard international letters and express services would also see price increases, the company said.

Write to Patrick Costello at [e-mail].

(END) Dow Jones Newswires

June 03, 2019 08:26 ET (12:26 GMT)

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