Industry watchers are optimistic about the continued decline in phone and internet prices in Canada, but acknowledge that there is still a long way to go in terms of telecom affordability in the country.
Statistics Canada’s inflation data for June reveals that consumers paid 14.7% less for cellular services compared to the same month last year, following an 8.2% decline in May.
The federal agency attributes the decrease in phone bills to lower prices for cellular data plans and promotional pricing.
Gerry Wall, the founder of Wall Communications Inc. which publishes an annual report comparing Canadian phone and internet prices with those of other countries, states that this data aligns with the ongoing trend of declining telecommunication costs in Canada in recent years.
He credits technological advancements that have improved network efficiency, and also believes that increased competition resulting from Quebecor Inc.’s Videotron entering the national market through its acquisition of Freedom Mobile could further accelerate these price reductions.
Wall’s latest report, released in February and prepared for Innovation, Science and Economic Development Canada, found that Canada still has some of the highest prices internationally for cellphone and broadband services in 2022.
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