- Verizon Communications Inc (NYSE:VZ) is considering raising prices for wireless services to pass along inflation-related costs to consumers, Bloomberg reports.
- Hans Vestberg, Verizon's chief, raised the prospect of boosting prices on an April call with investors.
- Recently AT&T Inc's (NYSE:T) hiked older calling plans by $6 or more.
- However, Verizon might introduce a higher-priced unlimited plan or added fees instead.
- If costs keep rising, Verizon customers will see higher monthly bills.
- Like many companies, wireless carriers are seeing wages rise. In April, AT&T disclosed that pay increases would add $1 billion to its costs.
- In response to a tight job market, both Verizon and T-Mobile US, Inc (NASDAQ:TMUS) boosted employees' starting pay to $20 an hour in the past few months.
- An analyst emphasized the need to balance price increases with providing options that allow budget-constrained customers to remain connected.
- Price Action: VZ shares traded lower by 1.26% at $47.78 on the last check Thursday.
