It seems like every service is raising its rates lately, including Netflix, Amazon Prime and Disney+ in recent months.
Now, add one of the top wireless companies to that list.
Verizon bills will be getting more expensive thanks to an “economic adjustment charge.”
The company says it will raise monthly fees by an additional $1.35 a month. The fee will apply per voice line you have with the wireless giant, which claims over 100 million customers.
It’s the first time Verizon has raised prices in two years.
The company warned back in April that inflation is to blame.
Wondering how Verizon can raise rates when you’ve agreed to a certain monthly plan? It’s because the price hike is hidden inside an ambiguous administrative charge on your bill. According to Verizon, this “helps defray certain expenses we incur.”
Verizon reported a net income of $4.7 billion dollars in the first quarter of 2022 and saw record demand for its services.