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AT&T Raises Prices on Wireless Plans to Address Higher Costs

  • Wage growth, spreading effects of inflation lead to increase
  • Move will test customer loyalty, could leave rivals to follow
An employee helps a customer with a smartphone at an AT&T Inc. store in Newport Beach, California.

An employee helps a customer with a smartphone at an AT&T Inc. store in Newport Beach, California.

Photographer: Patrick T. Fallon/Bloomberg
Updated on

AT&T Inc. is raising prices on older mobile-service plans in an effort to squeeze more revenue from customers and blunt the effects of quickening inflation.

The price increases mark a high-profile reversal for an industry that has mostly competed for new customers with discounts, free phones and low-priced family plans -- even after shrinking to a three-player market with the purchase of Sprint Corp. by T-Mobile US Inc. in 2020.