Verizon follows AT&T's price increase with one of its own [telecom]

The company says it's trying to find a balance between price hikes and service

By Gary Guthrie

If you're a Verizon customer, get ready for a price hike. Following AT&T's recently announced price increase, Verizon is doing the same for both consumer and business accounts - the first increase the company has imposed in two years.

According to Bloomberg News, consumers will pay $1.35 more per month starting in June for each voice line. However, those with "basic service" plans will only pay an additional $0.98. Verizon is couching the price change as an "economic adjustment charge" as opposed to an actual price increase. Business customers will pay up to up to $2.20 more per month.

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