German postal workers given double-digit pay rise to avert strike

Germany has averted a threatened postal strike after Deutsche Post DHL Group agreed to double-digit pay rises, which will compensate its workers for higher living costs but add to central bankers’ fears about persistently high inflation.

The two-year

covering 160,000 employees was agreed in last-ditch negotiations after 86 per cent of Deutsche Post workers last week voted in favour of an indefinite strike.

It is the latest…