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Inflation Costs Hit, Verizon Now Set To Increase Wireless Charges – $VZ $DIA

By John F. Heerdink, Jr.

As per reports, Verizon Communications, Inc. (VZ)  will be increasing prices on its wireless bills for the first time in two years as the US wireless carrier struggles with higher costs. A $1.35 increase in administrative charges for each voice line will start reflecting in the customers June phone bill, and business customers will bear a new “economic adjustment charge” beginning June 16. According to Verizon representatives, mobile phone data plans will increase by $2.20 a month and basic service plans will go up by 98 cents.

Rival AT&T Inc. (T) earlier this month raised its rates on older consumer plans by $6 on single lines and $12 for families in order to meet the rising costs and higher wages. Erwin further informed that, Verizon is trying to balance higher prices with better service, like switching customers from outdated plans to new 5G offers.

“We’re all feeling the pressure and we’ve been in the process of deciding how much of that pressure we can share with our clients,” stated Tami Erwin, head of Verizon Business.

Verizon Communications, Inc. (VZ) is a worldwide leader in delivering communications and technology solutions that improve the lives of its customers. To learn more about Verizon Communications, Inc. (VZ) and track its progress, please visit the Vista Partners Verizon Communications Inc. Coverage Page.

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(Read Original Story: Verizon Joins AT&T in Raising Wireless Prices as Inflation Bites in Bloomberg)


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