The decision will be the subject of protests from Liverpool supporters' groups for coming games at Anfield.
Hogan has defended the decision and also the hefty price hikes Liverpool fans will now face.
He said, "No one at Liverpool Football Club takes decisions on ticket pricing lightly. We have a responsibility to run the club sustainably, and to do so with an ambitious vision: to compete for all major trophies, to win trophies, and to keep winning trophies.
"That requires strength on the pitch, and it also requires that we compete in every way possible off the pitch. The landscape around us is relentlessly competitive, and many costs that are rising across the club and the industry are outside of our control."
He added: "Like households and businesses across the country, everyone is feeling cost of living pressures — and the club is not immune to those cost rises either.
"Our matchday operating costs at Anfield have risen significantly in recent years - up 85% including Anfield Road (or 57% excluding Anfield Road) over the past decade, with utility costs up 107% over just the past four years and business rates up 286% in that same period. Over the last decade, we have increased ticket prices by just 4% to keep any rise in ticket prices to a minimum."