Wetherspoons increases the cost of popular beers as prices across its food and drink range rise by an average of 3%
Budget British pub chain JD Wetherspoon has announced price increases of an average of 3% for its food and drink products against a backdrop of rising costs – despite recording an overall sales increase of 10.1% in its latest report compared to the previous year.
The company, owned by Sir Tim Martin, has released a statement confirming the increase in food and drink costs at its 814 locations across the UK.
The statement states that the average average price increase is 3%, but the median average is 3.95%.
However, it also confirmed lower increases in some products, for example a 2% increase in beers including Bud Light and Doom Bar.
Sir Tim blamed the product increases on rising operating costs, having previously noted labor costs in the hospitality industry.
Beloved British pub chain JD Wetherspoon has announced price increases on its menu by an average of 3%
He explained that labor costs in pubs represented around 30% of turnover, while in retail labor costs represented almost 10% of turnover.
The caterer reports that the owner of JD Wetherspoon used its January trading update to highlight tough trading conditions in the hospitality sector, despite like-for-like sales being 10% higher than last year.
'The inevitable consequence is that higher labor costs increase the price difference between the catering industry and supermarkets. At the same time, pubs pay much higher VAT and business rates than supermarkets, further widening the price gap,” he says.
Speaking about the pub chain's food and drink price rises, he said: 'Wetherspoon, like most pub companies, has seen some major cost increases. We believe our prices will remain competitive after these changes.”
The rises come after Tim Martin saw prices of both food and drink fall across the pub chain's 814 locations during the month of January – meaning punters could pick up a pint of Doom Bar for just £1.99.
Meanwhile, cocktails including a strawberry daquiri, a margarita and an espresso martini were just £2.99.
The January sale, which ran from January 2 to 17, also saw food and soft drinks reduced in price, with coffee, hot chocolate and tea costing £1.29, including free refills.
Meanwhile, the small breakfast plate of bacon, sausage, fried egg, baked beans and toast cost just £1.99 and a burger and soft drink just under a fiver.
Last month, fans of the budget pub chain criticized its three small plates meal deal, which was once marketed for £10, with the price almost twice as high on some UK sites.
A Wetherspoons customer posted a photo on Manchester.
In other locations, such as Holborn in central London, prices are even higher: £18.09 for three small plates.
According to the Office for National Statistics, the price of food and non-alcoholic drinks increased by around 21 percent between November 2021 and November 2023. per cent.