As inflation continues to hit consumers in the wallet, it appears that every single aspect of their monthly expenses has started to shoot through the roof. It has long been suspected that broadband rates have been on the rise as well, but in spite of the fact that this is the case, there hasn’t been much data to prove it either way.
With all of that having been said and now out of the way, it is important to note that a new survey conducted by US News and World Report revealed a definite uptick in broadband rates. Furthermore, it turns out that these increases are not being spread evenly across US based residents, with some areas seeing steeper increases than others.
One of the most glaring revelations from this survey was that over half of respondents that initially got their subscription for $60 a month are now paying anywhere from $41 to $80 for the same service. In addition to this, 39% of consumers have had to cut back on expenses because of the fact that this is the sort of thing that could potentially end up helping them pay their internet bill each month.
According to 61% of consumers, inflation is the main culprit with all things having been considered and taken into account. 8% of respondents went so far as to say that they are getting lower speeds than might have been the case otherwise, although the vast majority, or 84% to be precise, stated that they are still getting more than 25 megabits per second. Notably, this is in line with the FCC’s official definition of what broadband is supposed to provide.
31% of consumers said that they are receiving speeds of 101 to 300 megabits per second, with 28% receiving 25-100 MBps making it the second most common broadband speed of all. 25% received the highest speeds of all, namely 301-1000 MBps, which indicates that there are still high speed consumers out there and that they are willing to pay a premium rate in order to gain access to the very best internet.
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Read next: Gen Z’s Love Affair With TikTok Might Be Due to the Influencer Formula
With all of that having been said and now out of the way, it is important to note that a new survey conducted by US News and World Report revealed a definite uptick in broadband rates. Furthermore, it turns out that these increases are not being spread evenly across US based residents, with some areas seeing steeper increases than others.
One of the most glaring revelations from this survey was that over half of respondents that initially got their subscription for $60 a month are now paying anywhere from $41 to $80 for the same service. In addition to this, 39% of consumers have had to cut back on expenses because of the fact that this is the sort of thing that could potentially end up helping them pay their internet bill each month.
According to 61% of consumers, inflation is the main culprit with all things having been considered and taken into account. 8% of respondents went so far as to say that they are getting lower speeds than might have been the case otherwise, although the vast majority, or 84% to be precise, stated that they are still getting more than 25 megabits per second. Notably, this is in line with the FCC’s official definition of what broadband is supposed to provide.
31% of consumers said that they are receiving speeds of 101 to 300 megabits per second, with 28% receiving 25-100 MBps making it the second most common broadband speed of all. 25% received the highest speeds of all, namely 301-1000 MBps, which indicates that there are still high speed consumers out there and that they are willing to pay a premium rate in order to gain access to the very best internet.
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Read next: Gen Z’s Love Affair With TikTok Might Be Due to the Influencer Formula
