Millions of Verizon customers to be hit with fee hikes next month – are you affected?

VERIZON will be passing off high costs to customers beginning in June.

The fees will depend on which type of account customers have with the wireless provider.

The changes, announced May 16, come as the company grapples with inflation.

While slightly lower from March, the consumer price index (CPI) came in at 8.3% in April.

This was a few points higher than experts had predicted.

A Verizon spokesperson told CNET, "The current economic conditions impacting businesses worldwide continue to mount and despite our best efforts to mitigate the further impact, we intend to offset a portion of these costs."

For consumers, the fee will appear on customers' monthly bill as an administrative fee.

For business accounts, the fee will show up as an "economic adjustment charge."

Accounts with tablets and non-smartphones will also be hit with a smaller fee.

Below is more information about the fees, which go into effect on June 16.

Fees for consumers

As mentioned above, customers will see a higher administrative fee on their bill.

Verizon is raising the fee to $3.30 per line.

This is a $1.35 increase.

Lines for tablets and smartwatches will see the same increase.

Fees for businesses

Businesses will get an "economic adjustment charge" of $2.20 per line.

Verizon also reported that tablets and non-smartphones will be charged 98 cents per month.

The new business fees are a direct result of the changing economy and rising inflation, according to the company.

How to lower your internet and phone bill

Eligible households may cut their bill by $110 per year, thanks to a federal plan known as The Lifeline Program.

The program is part of a larger initiative called the Universal Service Fund (USF).

It aims to increase broadband access and is available to households with income at 135% or less of the federal poverty level.

The program provides up to $9.25 per month for cell phone service, or roughly $111 each year.

For more consumer news, here are the four appliances in your home using the most energy.

Plus, more ways to cut down your broadband bill.