Of the 189 respondents, less than a fifth (19%) said they won’t be putting their prices up in 2021, the survey revealed.
This comes after it was announced drinks firms Matthew Clark and Bibendum will be putting prices up by 3.5% from November.
The C&C Group-owned businesses put the increase down to supply chain pressures alongside a hike in labour costs and fuel prices.
Product price increase
A company spokesperson said: “As our industry recovers from the pandemic, the resulting, well-documented pressure on UK and global supply chains has added increased cost and complexity.
“This has been further compounded by increased labour costs and fuel price inflation. While we work hard to mitigate the impact of these pressures, in order to be able to maintain the service, we provide our customers, we have had to take the decision to increase the prices of our products.”
Furthermore, a report from CGA and Fourth last month (September) also found firms from across the hospitality sector were likely to increase prices for consumers as a result of supply chain issues and rising costs.
The poll of industry leaders found 99% of businesses were experiencing supply chain issues, with nearly nine in 10 (88%) facing reduced product lines. More than four in five saw deliveries of products delayed (82%) or failing to turn up completely (84%).
Food costs significantly increased
These supply issues have driving inflation in many key cost areas, with more than four in five seeing higher costs in their supply chain (82%).
Nearly three quarters (73%) of leaders said their food costs have risen, with 39% of them stating food costs have significantly increased.
Nearly as many have faced increases in the costs of drinks (70%) and access to products from Europe having been a particular issue, with 68% of leaders identifying it as a major area of concern.
