The price of a pint at your local boozer could reach an outrageous £14 in the next two and a half years if inflation continues at the current rate, according to a new report. It's a sad fate we’ve potentially seen coming, with the cost of a beer already increasing by 16% since 2017, and many pubs already serving gut-wrenching £7 pints.
The news comes after inflation hit double figures in the UK last week at 10.1%. In fact, with inflation and energy costs rising at such a rapid pace, the price of a pint of beer could even peak at £9 by the end of next year.
As the cost-of-living crisis perpetuates a surge in energy costs, rent prices and supply chain issues, hospitality businesses are being forced to pass on their increased costs to the customer.
According to a recent BBC report, the price of beer has already risen by 4.9% in the last year, with spirits increasing by 3.1% and wine by 2.1%.
And it’s not just beer that’s due to soar. You could also be paying as much as £4.44 for a cup of takeaway coffee, or £26 for an average Uber trip by 2025, according to analysis by pension provider Penfold. Ouch.
Chris Eastwood, co-founder at Penfold, said: “Rising prices are impacting people across the UK, with almost every activity, commodity, and service observing increased costs as shown from our research.
''The reality is the heightened levels of inflation we are experiencing do not align with how quickly wages have risen. An increase of 15.35% has occurred in the last five years, yet overall costs of living have nearly tripled by 41.27%.
''With the cost of living expected to continue increasing it has become more important to budget for the future and set achievable pension goals.''
So, with pints set to max out at £14 a pop, you might want to reconsider getting the rounds in on any future pub trips.
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