Quebecor has highlighted the role of Videotron, Fizz, and Freedom Mobile in the decline of Canadian wireless service prices, as reported in Statistics Canada’s monthly Consumer Price Index (CPI).
Between September 2022 and September 2023, the wireless component of the CPI fell by 12.9%, and wireless prices have dropped nearly 20% since Videotron’s acquisition of Freedom Mobile in April 2023.
According to the latest CPI report, the index rose by 3.8% between September 2022 and September 2023. However, the wireless component of the index showed a significant decline of 12.9%. Since Videotron acquired Freedom Mobile in April 2023, wireless prices have fallen by almost 20%, said Quebecor on Tuesday.
“New data from Statistics Canada confirms what we have promised: Since its acquisition by Videotron, Freedom Mobile has been driving change and competitors are following suit,” said Pierre Karl Péladeau, President and CEO of Quebecor, in a statement to iPhone in Canada.
“Even as consumer prices are going up across the board, wireless prices are falling, leaving more money in the pockets of Canadian families and benefitting the entire economy,” added Péladeau.
Back in April, the Quebecor CEO said Freedom Mobile would lower prices by at least 20%, compared to benchmark unlimited plans from the Big 3.
This summer, Freedom Mobile launched its 5G network and expanded its data to nationwide access, resulting in some competitive plans.
