JD Wetherspoon implements a 3% increase in prices for food and beverages

JD Wetherspoon has adjusted prices on its bar and food menus in response to increased costs.

The pub giant, with 814 sites under its operation, has stated that the average price hike across its range of products stands at 3%.

Wetherspoon said in a statement: '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, Stowford Press Cider and Doom Bar bitter have increased by 2%. Draught Pepsi has not increased.

'The average increase, across all bar and food products is 3%.'

Chairman Tim Martin utilized the group's January trading update to highlight the disparity in costs affecting pubs versus supermarkets.

He pointed out that labor costs in pubs constitute approximately 30% of sales, in contrast to around 10% in supermarkets, resulting in retail outlets being able to provide lower prices.

Addressing the recent price increases following last week's adjustments, Martin stated:
'Wetherspoon, like most pub companies, has seen some big increases in costs. We believe that our prices remain competitive, even after these changes.'

In its optimistic trading update released in January, Wetherspoon reported a significant increase in like-for-like bar sales by 11.8%, food sales by 7.9%, and room sales by 3.1%.

In the previous month, the company unveiled a £2.3 million pub near London's Euston station and forged an exclusive commercial collaboration with Haven to establish pubs at its holiday parks.