By Max Clarke
BT (LSE: BT.A) is to freeze prices for many of its services, though price rises averaging around 5% will be introduced from December, the company today announced.
Currently the consumer prices index of inflation stands at 4.4%, whilst energy prices were recently hiked by between 13-18% in the wake of spiking prices globally.
The news by the UK’s biggest telecoms company will be welcomed by its customers as inflation and energy price hikes erode consumers’ disposable incomes.
The UK's high streets continue to struggle as cash-strapped consumers are increasingly avoiding making unnecessary purchases, resulting in widespread retail decline.
Other prices to have risen include an 8% jump in train prices pushing the overpriced service to record levels, as well as above inflation growth in the price of food.
“We are making a series of price updates in December, but are then freezing some of our main prices until 2013,” explained John Petter, managing director of BT’s (LSE: BT.A) Consumer Division.
“This will provide our customers with greater certainty over their bills. We are also telling them how they can save money with BT.
“Our Line Rental Saver product for example will soon provide customers with a saving of more than £50 per year so if half our customers took that option the collective saving would be more than £250 million. There are other ways in which customers can save money and so we are committed to offering really good value for money in an extremely competitive market”.
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