Phone Bills to Jump by Around 14% Amid UK's Stubborn Inflation [BNN Bloomberg (Canada)]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
NASDAQ:AMEX Investor Relations:
ckh.com.hk/en/ir
Company Research
Source: BNN Bloomberg
The UK's main inflation gage, the Consumer Prices Index, will be announced Wednesday and is forecast to stay at about 10%, close to 40-year highs. If BT Group Plc, CK Hutchison Holdings Ltd's Three UK and Vodafone Group Plc don't change their current pricing models, bills for their millions of customers will start increasing by about 14% from April. Inflation figures published in February will determine prices for O2 customers. Although phone bills typically fall relatively low on the list of families' outgoings — beneath mortgages, rent, taxes, energy or childcare — they've come into sharper focus for British politicians and regulators as stubborn inflation squeezes consumers' wallets. “While Ofcom doesn't set retail prices, companies must treat customers fairly – particularly during an exceptional period of hardship for many households,” a spokesman for the telecoms watchdog said by email. Ofcom said customers must be told up front about future price rises before they sign up,
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