PUBS and restaurants can raise prices by up to 11%, and all because of the cost of living crisis.
Brits have been crippled by widespread rising costs, with some having to choose between heating and eating – and now even in their locality, they will feel pinched.
The price has increased in supermarkets, energy bills are set to rise further, and Britons are expected to cut even more of their National Insurance tax in April.
Just yesterday, it emerged that energy price caps imposed to prevent households from being cut off would escalate to £1,971 a yeareffective April 1st.
Prices soar even managed to cripple more than 30 energy companies since the crisis began.
But the hotel sector is also unaffected by rising costs.
Around 93 per cent of hospitality businesses say they plan to increase customer rates, according to UK Hospitality.
Bosses have seen a doubling in their energy bills, labor, food and beverage costs and their own insurance costs.
They are also about to face an increase in VAT on food and beverage from 12.5% to 20% and see an increase in business rates in April.
That means we should see prices on pub or restaurant menus increase by an average of 11% to offset rising costs.
It comes at a time when the hotel industry is trying to recapture the “brutal” Christmas period after Omicron canceled numerous plans to celebrate in pubs and beyond.
Kate Nicholls, UK Hospitality’s chief executive, said: “Omicron was infectious in early 2022 with lower-than-expected transactions and higher-than-expected cancellations at serviced locations. hotel.
“One in three businesses in our sector no longer have cash reserves and are burdened with debt.
“Many of our community pubs, restaurants, hotels and hospitality venues will therefore fail because cost of living crisis biting, causing demand to stagnate”.
The Prime Minister, Rishi Sunak, yesterday announced a package up to £350 to help Britons get through the energy bill crisis.
Available to be £200 discount for all electricity customers, will be paid in installments of £40 a year over the next five years, starting in April.
More £150 off home within the lower council tax range A – D, and will not need to be reimbursed.
But you also warned of price increase is something that “we’ll have to get used to”.
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https://www.thesun.co.uk/money/17549238/pubs-restaurants-hike-prices-cost-of-living-crisis/ Pubs and restaurants raise prices by up to 11% due to cost of living crisis