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THE 52-YEAR-OLD MONEY SAVING EXPERT FOUNDER HAS SPOKEN OUT OVER OFCOM "FINALLY" BANNING INFLATION-LINKED MID CONTRACT PRICE HIKES. 05:56, 30 Jan 2025 Martin Lewis has warned how
customers are being 'ripped off' by broadband providers despite a Ofcom rule change. The 52-year-old Money Saving Expert founder has spoken out over Ofcom "finally"
banning inflation-linked mid contract price hikes. Firms must now set out clearly in pounds and pence what the rise in price will be over the course of the contract and when the price rise
will occur, the BBC Sounds podcast presenter has explained in a video for his loyal MSE following. But this only applies to new contracts, the ITV regular warned. MSE founder Martin said:
"Yes, the 17% mid-contract inflation-linked rises are now banned. Good for transparency, however, in practice, some will now face even bigger ones. READ MORE WARNING ISSUED TO 'A
THIRD' OF USED CAR DRIVERS OVER 'TICKING TIMEBOMB' "If you're increasing everybody's contract no matter what they're paying by £3.5, someone who's
paying £20 a month is seeing a massive rise of 16 or 17 per cent." The consumer champion added: "Someone who's paying £40 a month, they're seeing a rise of eight or nine
per cent." Article continues below He warned customers to be careful not to fall for low "headline prices", adding: "We're going to see some shifting of the pricing
mechanisms that go on here. And what it also allows firms to do, this new model that Ofcom has come up with is it allows firms to price low early on - for a low headline price - but then
bump up higher prices year by year. "Let's make this extreme - no one's doing this at the moment - you could start at £20, but then in a few months time in April, it's
going up to £30. In the year after, it's going up to £40. That could legitimately work within the rules." He added that it was important customers checked any new terms and
conditions to make sure they weren't being "ripped off".