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Inflation has finally caught up with cell phone bills – Verizon and AT&T new increased rates

Hugo NortonBy Hugo NortonSeptember 3, 20232 Mins Read
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Learn about the recent rate hikes by Verizon and AT&T, what this means for consumers and how to keep your cell phone bill in check.
Inflation on your cellphone bill at Verizon and AT&T.
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Verizon Wireless customers should expect a rise in monthly fees for the first time in two years. On May 16, Verizon started informing customers and more significant business clients of the upcoming rate hike.

Learn about the recent rate hikes by Verizon and AT&T, what this means for consumers and how to keep your cell phone bill in check.
Verizon

According to Bloomberg, administrative fees for every voice line increased by $1.35 for millions of users in June. Representatives from Verizon also stated that effective on June 16, basic service plans will increase by 98 cents per month, and mobile phone data rates will increase by $2.20 per month.

AT&T also implemented a pricing increase at the beginning of May, raising rates by $6 for individual lines and $12 for family plans.

Learn about the recent rate hikes by Verizon and AT&T, what this means for consumers and how to keep your cell phone bill in check.
AT&T

However, according to the results of a survey of mobile services contenders conducted by Recon Analytics, these pricing rises could cause some concerns. An independent Bloomberg research found that AT&T’s monthly customer deflections might increase to 12% from the company’s average of 1%.

According to wireless providers, the current economic climate is responsible for the price increases. The Labor Department reports that the all items index surged 8.3 percent from the previous year (not seasonally adjusted) in April.

Verizon Business head recently told Bloomberg, “We’re all feeling the pressure, and we’ve been in the process of choosing how much of that burden we can share with our clients.” According to Bloomberg, major mobile operators are attempting to balance price increases and enhanced services, such as migrating consumers from original agreements to the new 5G network.

According to Bloomberg, one of the LightShed Partners analysts said, “5G and free streaming services have not been enough to promote the transition to premium bundles required for revenue growth in the telecom business.”


Nexym's editorial team handpicks all of the products and services it recommends, regardless of external influences. Affiliate links appear in some of our stories. We may receive an affiliate commission if you purchase something through one of these links, which helps us stay independent and support our great team.

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Hugo Norton

Hugo is a Nexym Life writer and international traveler. He's traveled to over 50 countries and speaks 4 languages fluently. He is passionate about seeing the world and viewing it from different cultural contexts. On his off-time, he likes to kick back and watch nature documentaries.

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