Around April each year I usually look at my costs, changes to pay rates and taxes, and review my prices accordingly. In 2020 the pandemic had just hit, and nothing was ‘normal’ so it was nearly impossible to clearly review the situation. As the government did what they could to help out, which included reducing the VAT rate, We decided to keep our prices the same to help those on reduced incomes.
Over the next 12 months things began to stabilise, but with the resolution of Brexit and the added measures needed to operate safely, there have been many increases in costs. The result is that over the 2 years some suppliers have increased their prices substantially.
Our fish and potato costs have risen by 12% each, and some other products have risen by over 40%. While the VAT rate reduction has helped us weather these rises, when it ends the suppliers prices are likely to have risen further.
As a result we will have to increase our prices effective 18th May to enable us to continue providing the finest quality products.