Pints could soar to £9 by 2023 amid price hikes in pubs and restaurants

Drinkers have been warned to expect pint prices to surge as pubs and restaurants brace themselves for a 6% price increase. 

Industry bosses are reportedly preparing to hike bar and menu costs once again as overhead costs increase. This comes after a price increase of 9% throughout the last twelve months.

Hospitality trade analysts CGA reported that the most expensive pint it found was, unsurprisingly, in London, priced at an eye-watering £8.

The average cost of a pint in the capital is £5.50, according to finder.com, but the most expensive is up at £8 – though inflation has the potential to push this up to £9 by next year.

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Higher costs across the hospitality sector will also push up prices for takeaways, nightclubs and hotels into 2023.

The report found 81% of business across the sector have been impacted by shortages of key food and drink products, while 71% reported ‘significant increases’ in energy costs.

Read More: Energy bills set to rise even higher in worrying new prediction

Sebastien Sepierre, managing director of Fourth Hospitality, explained: “The hospitality industry has had a torrid time over the last two and a half years, and the ongoing supply chain disruption is the latest challenge that businesses have had to contend with.”

Karl Chessell from CGA added: “The double whammy of cost and availability issues is piling huge pressure on operators’ margins. Combined with the growing cost-of-living crisis for consumers, it means trading conditions will be very tough over the remainder of 2022.

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“Hospitality’s long-term future is bright, but for now leaders will have to find the right balance between absorbing soaring costs and passing them on to guests.

“The huge supply challenges also highlight the need for urgent and sustained government support for the sector.”

These predictions come just days after UK inflation hit 10.1%, its highest rate in over forty years.

The biggest increases came for bread and cereals, dairy, meat and vegetables, with the rising cost of food leading to record increases for restaurant and hotel prices and pushing up the cost of takeaways.