Magyar Telekom announced that from March 1st, 2024, it will apply an annual price adjustment based on inflation, and will raise the monthly subscription fees by 15 percent for customer contracts.
The reason behind the decision is that the average consumer price change in 2023 of the Central Statistical Office was 17.6%, and Telekom decided to apply a 15% price adjustment, taking into account economic and market processes and the interests of customers. The telecommunications company refers to the inflation adjustment clause in its General Terms and Conditions, which allows it to adjust the monthly subscription fees based on the annual average consumer price index of the previous business year published by the Central Statistical Office. Customers with business landline services will receive the revised monthly rates in March, while residential landline, residential mobile and business mobile subscribers will receive their bills in April.
Regarding Magyar Telekom’s fee adjustment, Portfolio notes that similar practices are used by other telecommunications service providers. For example, Vodafone will raise its prices by 15.4% from May, while Yettel increased its prices by 14.5% last year. Telekom also applied a 14.5% increase from March 2023, in line with official inflation.