Thank you, Chair and members of the committee.
Before I begin, I'd like to start by acknowledging that the offices from which I'm joining you today are on the traditional territory of many nations, including the Mississaugas of the Credit, the Anishinabe, the Chippewa, the Haudenosaunee and the Wendat peoples. I'd also like to acknowledge that Toronto is covered by Treaty 13, signed with the Mississaugas of the Credit, and by the Williams Treaties, signed with multiple Mississaugas and Chippewa bands.
At Bell, our purpose is to connect Canadians with each other and with the world. To deliver on that purpose, we offer customers access to the best products and services at prices that have declined significantly in recent years. For example, the latest Statistics Canada consumer price index shows that prices for wireless services in Canada have declined by more than 45% since January 2020, and Internet access prices have declined by almost 6%. Over the same period, overall inflation has increased by 18%. A recent price comparison from the Department of Innovation, Science and Economic Development shows that Canadians now pay significantly less for wireless services than consumers in the United States.
As prices have come down, we have continued to invest in expanding our networks for Canadians. In 2020, Bell embarked upon the largest capital expenditure program in our history, investing $23 billion to build world-class networks that are a foundation of our country's digital economy. Our 5G and 5G+ networks are now available to 86% and 51% of the population respectively, and by the end of next year, our fibre network will reach 8.3 million homes and businesses across our footprint. Our fibre expansion has brought competition to the cable companies and has given Canadians access to the fastest Internet technology available, full stop. We are immensely proud of this work and of our team members and the vendors who deliver for Canadians.
We also aim to provide our customers with the highest level of service possible. In October, Bell became the first telecommunications company in Canada to name a dedicated chief customer experience officer. We continue to improve our service and provide customers with greater flexibility through digital tools. Our award-winning MyBell app makes it easier for customers to manage their services online, and our virtual repair tool fixes common issues from within the MyBell app.
Transparency and clear communication are critical to building and maintaining trust with customers. Our wireless, TV and Internet services are governed by the CRTC's consumer protection codes, and there are also consumer protection laws in place in provinces across the country. Our pricing terms are clearly displayed on our website and in our contracts, and our customer service representatives are trained to explain them to our customers. We give explicit advance notice to customers on any changes in their plans, so they can decide if they want to change their plans or even their service provider. In the event that our high standards for transparency are not met, we work directly with the customer in question to make it right and to resolve any concerns they have.
I want to thank committee members for the opportunity to discuss these important issues with you today, and I look forward to our discussion over the rest of the afternoon.
Thank you.