With the high cost of living crisis, it seems that most Britons no longer have the desire to cook to cut costs, which has pushed them towards fast food despite recent price hikes.
Favorite lunch items at popular fast food chains, including Greggs sausage rolls, big mac, pret tuna and cucumber baguette, have risen in price in recent months, with some items up to 50p.
It comes after fast food chain McDonald’s raised the price of a cheeseburger from 99p to £1.19 last month. This is the first time that hamburger prices have risen in more than 14 years.
At the same time, regular restaurant and bar chains are also steadily increasing prices.
The price of a half and two sides of Nando chicken has risen from £11.20 to £13 in the last two years, while Pizza Express’s classic La Reine is now 75p more than it was in 2020.
Even Wetherspoon, known for its drink and dinner discounts, has been forced to raise prices on its menu. Three of the chain’s famous dishes have risen in price from £10 to £12.50 in some places, while the equally popular large breakfast now costs 30p more than last year.
This comes at a time when all restaurants are facing a double whammy due to rising prices. Prices for some ingredients, such as flour and cooking oils, have risen, while shops, cafes and restaurants are also struggling due to higher gas prices.
But rising prices could undermine consumer confidence in the market, as customers are already trying to tighten their belts under the pressure of a broader cost of living.
Britons are already starting to cut their spending, bracing for higher energy bills this winter, as well as inflated grocery prices in supermarkets. There are fears that inflation itself could reach 15% in the UK this winter if energy prices continue to rise.
Bars have started turning their lights off due to high energy bills hitting the hotel sector.
Celebrity chef Tom Kerridge has revealed that electricity bills at one of his pubs will rise from £60,000 to £420,000 a year as the UK hospitality sector faces financial collapse this winter.
Source: Daily Mail