On Tuesday, Deutsche Post (DPWGn.DE) said postage stamp prices must rise next year to pay rising costs.
“In view of drastically increased costs due to inflation, higher energy prices and the very high tariff settlement in 2023 as well as an unexpectedly strong fall in letter volumes, there is no way around an increase in postage charges,” said Nikola Hagleitner, Deutsche Post’s domestic post and parcel division CEO.
The business said 2021 predictions that underpin the current price are inaccurate.
It has requested the federal network regulator to lift a price cap until 2024 to raise postage stamp rates next year.
Despite high salaries, Deutsche Post claimed a basic letter stamp in Germany costs 85 euro cents ($0.9357), below the European average.
It didn’t specify its price rise.
The network regulator said it would “initiate a new procedure… if the facts presented are convincing and meet the requirements for the application” for Deutsche Post’s application.
