In today's dynamic economic landscape, staying ahead of price increases and ensuring cost stability is paramount for businesses.
As we navigate through the challenges of fluctuating inflation rates, it's crucial to choose reliable partners who prioritise transparency and customer satisfaction. At Intercity, we understand the importance of providing our customers with peace of mind and financial predictability. That's why we're proud to announce our commitment to no in-contract price increases across our core mobile range on 24+ month contracts.
In recent years, the Retail Price Index (RPI) has experienced significant fluctuations, leading to increased costs for businesses and consumers alike.
Let's delve into some statistics to understand the magnitude of these changes:
- In 2022, the Consumer Price Index (CPI) surged by 7% and an additional 3.9%, resulting in a staggering 10.9% increase.
- The following year, 2023, saw a CPI rise of 10.4%, coupled with a 3.9% increment, totalling a substantial 14.4% hike.
- Looking ahead to 2024, the expected CPI increase is around 4%, with an additional 3.9% adjustment, projected to reach 7.9%.
This stark escalation indicates a remarkable 33% surge in RPI over the last 24 months alone.
With these inflationary pressures looming, the time to act is now, especially for those out of contract or on rolling contracts. While OFCOM is currently reviewing inflation-linked increases for consumers, businesses remain vulnerable to potential price hikes.
It's important to note that over the course of a mobile contract, customers may encounter monthly price adjustments to align with changing annual costs or inflation rates. While some networks opt for fixed annual rate increases, others adhere to inflation rates such as RPI or CPI. However, not all networks commit to maintaining stable prices throughout the contract period.
At Intercity, we stand by our promise to provide our customers with reliable and transparent pricing. We want to raise the bar and lead by example, enabling us to better serve the industry and the customers we value.
In our effort to empower customers with informed decisions and to remain transparent, check out OFCOM's guide to annual mid-contract price increases, offering valuable insights into this matter.
Whilst we are unable to prevent inflation, we are dedicated to supporting businesses in navigating through economic uncertainties by offering stable and predictable pricing structures, helping you forecast with certainty.
For more information on our mobile offerings and pricing policies, contact our dedicated mobile team today.
