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Your Verizon bill will go up starting next month as carrier raises prices
- Verizon has confirmed a price hike starting in June.
- The carrier will impose new charges on both consumer and business accounts.
- The price increase is being attributed to current economic conditions.
Verizon is raising prices for both consumer and business accounts. The company is following in the footsteps of A&T, which revealed price hikes for its subscribers just two weeks ago.
This is the first time in two years that Big Red is raising plan prices. CEO Hans Vestberg hinted at the price increase in April, citing inflation concerns.
So what are the new charges Verizon will be imposing? Per a Bloomberg report, each Verizon consumer will see a $1.35 increase in administrative charges. That means you’ll now pay an administrative fee of $3.30 per voice line. These changes will reflect in your June bill.
Business customers will pay a new “economic adjustment charge” starting June 16. Their mobile phone data charges will increase by $2.20 a month, and basic service plans for phones and tablets will go up by 98 cents.
Speaking about the price hike, a Verizon spokesperson gave the following statement to The Verge:
From time to time, we review and make adjustments to fees to defray some of Verizon’s administrative and telco expenses and costs of complying with regulatory requirements. To that end, Verizon Consumer will implement a change beginning in June. The current economic conditions impacting businesses worldwide continue to mount and despite our best efforts to mitigate further impact, we intend to offset a portion of these costs by implementing an Economic Adjustment Charge.
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