Inflation is on the rise, and it’s hitting consumers hard. Phone bills are no exception, with the average American now spending $1,342 per year on their phone bill. This is up 5% from the previous year and has significantly topped the psychologically important $100 per month mark. While this is bad news for consumers, investors can protect themselves from this inflationary trend by investing in these three telecom stocks: Verizon Communications (VZ), American Tower (AMT), and Telus (TU). Verizon has a high-quality network that can offer more reliable coverage and faster data connections compared to rivals. The company has also turned the corner on its capital expenditure cycle, which has weighed on its free cash flow and dividend growth in recent years. American Tower is the world’s largest real estate investment trust within the specialized category of telecom and communications assets. The company controls more than 224,000 communications sites, and its business is primarily in operating cell phone towers. Telus is one of the three prominent Canadian telecommunications companies. The company has pricing power and has been able to increase customer spend, especially in this inflationary environment.
