An Post price hike requests denied

An Post is facing a serious financial crisis after being informed it will not be granted its request for a 10c hike in the cost of the standard 55c postage stamp.

The Commission for Communications Regulation (ComReg) has signalled it is only prepared to sanction a 3c rise to 58c.

However, ComReg also indicated it might consent to approving an increase to 60c per stamp following a public consultation.