For the first time in two years, Verizon Communications Inc will raise prices on its wireless bills, helping it shift the burden of higher costs, Bloomberg reports.
Industry watchdogs had warned that post-T-Mobile US, Inc’sacquisition of Sprint Corp, there would be fewer wireless competitors, making it easier to raise prices.
Implementing higher charges under cover of surging inflation represents a ripe time to capitalize on the situation.
Recently AT&T Inc raised its rates on older consumer plans by $6 on single lines and $12 for families to cope with rising costs and higher wages.
The Labor Department data signaled that high consumer inflation could persist longer than expected.
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