We’ve probably been lamenting the price of pints in London since, oh I don’t know, the day this page started. But, despite our moaning, I don’t think anyone could have quite envisaged some of these figures…
In two-and-a-half years, the price of a pint in London could be more than double what you’d expect to pay now, with some data projecting a jump to £14.
Just a few years ago, the internet was occupied by making memes about “not getting another note back when you handed the bartender a tenner for one pint”. The content that could come out if these latest predictions from pension providers Penfold come to fruition is less likely to draw a smirk than bring on floods of tears…
This data is based on the worrying trends of rising energy costs continuing, as well as wage and supply chain issues meaning the price has to be taken on by those purchasing a pint. It has also predicted the price of a cup of coffee could soar to £4.44, and the average price of an Uber ride £26.
Since 2017, pint prices have jumped by 16% in the capital and depending where you frequent, £7 pints are becoming more of a norm. Another 6% increase is expected to take place by 2023.
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.”