Many of the main mobile and broadband providers increase their prices annually by the rate of inflation, plus an additional amount of up to 3.9%

In 2023, record inflation levels mean that’s set to be anything up to an eye watering 18% increase, on top of rises of almost 10% last year.

Providers can increase prices mid contract, providing they told you about it when you signed up.

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What are mid contract price rises?

Your provider has the right to raise prices by the rate of inflation each year, many of them add an additional discretionary amount on top of up to 3.9%. Annual inflation linked price rises are not a new thing but runaway inflation this year is going to lead to record rises, on top of the 10% increases many incurred in 2022.

Despite new Ofcom rules on making these price rises more transparent when you sign up, many consumers have no idea until they receive a notification of the rise. Unfortunately, there is very little you can do if you’re locked into a contract.

Who is raising prices in 2023?

BT, EE, O2, Plusnet, Vodafone, Shell Energy, Three and Vodafone are amongst the providers predicted to raise prices in April by the rate of inflation plus an additional amount of up to 3.9%. The inflation measure used can be the CPI (Consumer Price Index) or RPI (Retail Price Index) as published in December or January.

Talktalk prices are expected to rise by the rate of inflation, measured by CPI (Consumer Price Index) plus an additional 3.7%.

Now TV, Sky and Virgin Media don’t write inflation linked price rises into their contracts, so whilst they still increase prices annually, they allow customers to leave penalty free.

Cuckoo, Giffgaff, Hyperoptic and Tesco Mobile all commit to not raising prices during their contracts.

Use our calculator to see how the rises may effect you individually.

Outside of your initial contract term?

You don’t have to swallow these price increases. Many of the best deals are reserved for new customers so switching to a new provider means you could save and even upgrade your package at the same time whilst still saving money.

Alternatively, renegotiating with your current provider is always worth a go. Many broadband providers increase their prices after the minimum term and annual bills can gradually creep up, you may find you can save hundreds of pounds a year by asking your current provider to switch you to a better deal.

Still in contract?

Unfortunately, you can’t leave penalty free if you’re still in contract. If you’re unhappy with price rises, make a note of your contract end date so you can switch and save as soon as your contract expires.

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