Wetherspoon hikes cost of pints
JD Wetherspoon (JDW.L) has raised prices across its bar and food menus, with a pint costing as much as £7.30 at some pubs.
On average, all bar and food product prices have gone up 3% this month.
A spokesperson for the pub chain said: “Most prices in Wetherspoon pubs have increased by 3.95% from Thursday 1 February 2024.
“Some prices have increased by less. Ruddles Bitter has increased by 1%. Bud Light lager (BUD), Stowford Press Cider and Doom Bar bitter have increased by 2%. Draught Pepsi (PEP) has not increased.
“The average increase, across all bar and food products is 3%.”
Read more: What is inflation and what does it mean for you?
This is the second time in just six months the pub chain has hiked prices as is tries to counter a rise in costs.
Wetherspoon chairman Tim Martin said: “Wetherspoon, like most pub companies, has seen some big increases in costs. We believe that our prices remain competitive, even after these changes.”
Looking at the new menus, pubgoers in London are looking at paying over £7 for a pint.
In The Moon Under the Water in London's Leicester Square, a pint of Leffe now costs £7.30. A Mad Squirrel Big Sea West Coast IPA now costs £7.09, while a pint of San Miguel or Windsor & Eton Treason West Coast IPA costs £6.98.
A pub favourite like Stella Artois now costs £6.88 at most London branches, up from £6.68. Guinness (DGE.L) will set you back £6.66.
At the Victoria Station London branch, a pint of Leffe costs 20p more at £6.97 and Corona and San Miguel will set you back £6.63.
Read more: Bread, meat and biscuits get cheaper as UK food inflation drops
Wetherspoon pricing does vary between its sites as it aims to "be competitive" within different local areas.
Martin used the group’s January trading update to rally against a disparity in costs hitting pubs and supermarkets.
He said labour costs in pubs were about 30% of sales, compared to around 10% in supermarkets, meaning retail stores were able to offer lower prices.
Watch:Wetherspoons founder Tim Martin labels dry January a 'cult'
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