Greggs Raises Prices Again as Inflation Bites
Greggs, the popular British bakery chain, is set to increase the prices of a small number of its products this week due to high inflation. This marks the third price rise this year for the company, which has been affected by soaring food costs. Greggs' chief executive has urged the incoming Chancellor, Rachel Reeves, to avoid further surprises in the upcoming Budget on November 26, 2024.
The price hike will see some baked goods, such as empire biscuits, increase by 5p. The breakfast meal deal, currently priced at £3.95, will also rise to £4.15. This follows two previous price increases in 2024, reflecting the challenging economic environment. The boss of Greggs has described the current situation as 'high inflation', with retailers and hospitality firms particularly affected by increases to employers' National Insurance contributions. The High Street continues to feel the impact of higher costs introduced in last year's Budget.
Greggs hopes that the Labour Party, under Rachel Reeves' leadership, will deliver a 'balanced Budget' that addresses the concerns of businesses and consumers alike.
Greggs' price increases, effective this week, are a direct result of high inflation and rising food costs. The company has called on the incoming Chancellor to deliver a balanced Budget that supports businesses and helps mitigate the impact of inflation on consumers.
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