Telstra raises prices in August despite earlier claims that there would be no increase in July.

After previously stating that it would not be increasing prices in July, Telstra has now announced that the cost of its mobile plans will actually be increasing in August. This morning, the telco released a statement to the share market, revealing that most of its plans will see an increase of between $2 and $4 per month. These changes will take effect on August 27 for post-paid customers and October 22 for pre-paid users.

This news comes months after Telstra's announcement in March, where they also revealed the cutting of 2800 jobs in an effort to save $350 million. At the time, CEO Vicki Brady assured customers that there would be no price hikes in July as they were getting rid of the inflation-linked price indexation. She stated, "We will not be making a CPI-linked annual price change to post-paid mobile prices in July 2024. We will continue to review our pricing and any changes will be communicated to customers in a timely and transparent way."

However, with the recent announcement of the price increases, it seems as though Telstra has taken into consideration the high cost of living and the removal of CPI-linked price changes. In their statement, they explained that this change was done in order to simplify their pricing approach and make it more consistent across all products and services. They also mentioned that there are various factors that go into making pricing decisions and that this change allows them to have more flexibility in adjusting prices based on the value and needs of their customers.

Telstra also addressed the current financial pressures that some of its customers may be facing, but also emphasized the need to continue investing in technology and meeting the demands of their customers on the mobile network. As Australia's largest mobile network, with over 22.5 million retail services, Telstra remains committed to providing quality services to its customers. Last year, they posted an after-tax profit of $2.1 billion.

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