Incorrect translation of ‘shipping’ at woocommerce checkout page after WC update 3.4*

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This seems to be a common bug likely caused by the WC update. To solve the issue the best solution currently seems to be use the filter “woocommerce_shipping_package_name” 

function custom_shipping_package_name( $name ) {
  return 'Frakt';
}
add_filter( 'woocommerce_shipping_package_name', 'custom_shipping_package_name' );