Price of a pint of of beer in London surging towards £14 as inflation rises, according to analysis

Price of a pint of of beer in London surging towards £14 as inflation rises, according to analysis

A pint of beer in London is on track to hit £14 in just two and a half years if inflation and energy costs continue to surge, new research predicts.

Higher energy costs, wages and supply chain issues have meant businesses have been forced to pass on costs to customers with the price of every day purchases soaring.

As well as £14 for a pint of beer, a cup of takeaway coffee is also likely to soar in price to as much as £4.44, and the average Uber trip will hit £26, by 2025, according to figures from pension provider Penfold.

The cost of a pint of beer in London has already gone up by 16% since 2017 with punters paying over £7 in many pubs across the capital.

Higher energy costs, wages and supply chain issues have meant struggling businesses have had to pass on costs to customers. Prices have gone up by 9% in the last year and are predicted to increase by another 6% in 2023.

The firm’s analysis suggests a pint of milk could cost 64p by the year 2025.

Boris Johnson regularly toasted with a pint on the campaign trail but with price rises the traditional tipple could become a luxury. (Getty Images)
Boris Johnson regularly toasted with a pint on the campaign trail but with price rises the traditional tipple could become a luxury. (Getty Images)

Chris Eastwood, co-founder at Penfold, said: “Rising prices are impacting people across the UK, with almost every activity, commodity, and service observing increased costs as shown from our research.

“The reality is the heightened levels of inflation we are experiencing do not align with how quickly wages have risen. An increase of 15.35% has occurred in the last five years, yet overall costs of living have nearly tripled by 41.27%.

“With the cost of living expected to continue increasing it has become more important to budget for the future and set achievable pension goals.”

The hospitality sector, already put under severe pressure due to closures during the Covid pandemic, is now facing record-high inflation and the energy crisis

The number of pubs in ­England and Wales fell below 40,000 ­during this year, a loss of more than 7,000 in a decade.

Pubs have been demolished or converted, research from real estate advisers Altus Group found.

UK president Robert Hayton said: “They’re grappling with the cost of doing business through soaring energy costs, inflationary pressures and tax rises.”

Published by anthonyhayble

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