Several pubs and bars across the UK are set to hike their prices by around 11 per cent due to soaring costs.
It comes amid the ongoing cost of living crisis, which has resulted in surging energy prices as well as increased national insurance contributions being introduced in April.
Hospitality firms said they needed to lift prices as a result of the changes, having witnessed double-figure increases in energy bills, labour, food and drink prices and insurance costs. VAT on food and soft drinks is soon set to return to 20 per cent too, and there will be an increase in business rates in April.
Around 93 per cent of businesses in the industry said they planned to increase customer prices, according to a survey of 340 operators running 8,200 venues by trade body UK Hospitality.Surveyed businesses told the trade body that energy costs particularly hit them hard, with companies facing an average cost surge of 41 per cent.
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