The amount of cash needed to buy a cold bevvy is on track to reach staggering heights as inflation and the cost of living crisis continue. In recent months, we’ve all, at least once, winced at the sound of a bartender announcing the dent our bank balance is about witness. £7 for a pint of Neck Oil? Surely not!
Well, it’s about to get worse, folks. A pint of beer in London could hit an eyewatering £14 in just two and a half years, if inflation and energy costs continue in the direction that they’re heading in, according to new research.
The cost of living crisis has already led to higher energy costs, rent prices and supply chain issues for hospitality businesses, that aren’t in a position to raise workers’ wages. After two years of closures, post-pandemic recovery and everyday costs soaring due to inflation, pubs are being forced to raise prices. Hence the extortionate pint.
But it's not just the humble pint soaring in price. Other modern-day essentials like the takeaway cup of coffee is likely to hit £4.44, while an average Uber trip could reach £26 by 2024, according to figures from pension provider Penfold. Already since 2017, the cost of a cold beer in London has already increased by 16 percent, with punters spotting the doomed £7 pint in pubs across the capital.
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%.’
So, with the hefty cost of a pint predicted to exceed the London living wage, we might have to brace ourselves for near bank-breaking pub visits if things continue the way they are.
The Thames is full of happy, healthy porpoises.
You might soon be able to get the Uber Boat from Essex to London.