More than £1 billion was wiped from the value of Britain’s biggest mobile operators today after Ofcom said it planned to ban inflation-linked price rises mid-way through contracts amid a crackdown on practices that it said cause ‘harm’ to consumers.
The media and telecoms regulator said it would lay out fresh rules requiring that any price written into a customer’s contract would need to be set out in pounds and pence, prominently and transparently, at the point of sale, rather than by using complicated terms like CPI and RPI.
