Telefónica has confirmed that it will raise prices an average 6.8% from Jan 2023

TelefónicaTelefónica confirms average tariff rise of 6.8% from Jan 2023

Norbolsa | Telefónica CEO, Ángel Vilá, has confirmed that in the next few days the company will officially announce an average rise in tariffs for Movistar clients in Spain of 6.8%. This will come into effect from January 2023. The rise in tariffs will not be lineal, but will vary according to the services contracted. Up to now, the Spanish telco was implementing its strategy «more for more». This consisted in offering more services for clients at a higher price. However, high inflation and sector costs (to which will be added the salary review in 2023) have led to the company to opt for a price rise in tariffs.

In September, Vodafone España also announced an increase in tariffs in line with inflation at the start of 2023. This is one of the limited tools left to the telcos for raising their revenues in Spain, one of the most competitive markets in Europe, particularly in the low cost segment.

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