A quiet pint of beer at an English pub used to be one of life's simple pleasures - and a pretty affordable one, too.
But beer prices across the UK are set to rise by 50p, with pints in London soaring to up to £7 ($13.30) due to rising inflation rates.
Industry insiders have warned that Londoners may soon have to pay £7 for their pint of beer in the pub, Drinks Business reports.
The price of beer is estimated to increase by 50p across the country, but London is set to be worst affected as industry experts warn pub inflation has now risen by 10%.
In order to try and cap the rise in beer prices, industry leaders have called for VAT to remain at 12.5% ahead of a rise of up to 20% in the northern hemisphere spring, the Evening Standard reported.
Pub trade was down 30% on average across England during the second half of December, compared with 2019, according to data from CGA Stategy, which works with food and drink suppliers, hospitality operators, trade bodies and financial institutions.
The British Beer and Pub Association (BBPA) is urging further Government support to combat the increasing financial pressures to ensure pubs remain open for consumers, having recently relaunched its Long Live The Local campaign.
The campaign urges the British Government to provide long-term support by extending the current lower rate of VAT, lowering beer duty, and reforming the business rates system to reduce the disproportionate tax-burden on pubs.
CGA’s Consumer Pulse survey of 2,000 nationally representative consumers indicates more than two-thirds (70%) now feel confident about visiting pubs, bars and restaurants.
That figure is double the number (34%) who felt confident at the start of 2021, and a sharp increase on the figure of 52% from CGA’s research in July.
Image: Maksim Chernyshev, Scop.io
