Bakery chain Greggs has announced it is forced to increase prices of popular breakfast items due to inflation. The company said it was planning on implementing the changes "soon" with product prices set to increase by up to 10p.
Roger Whiteside, who will step down as Greggs’ chief executive on Tuesday, said in an update to shareholders that the business is in the process of working out its latest potential price increases due to cost inflation.
He said: “At the start of the year we made some increases and then, when the reduced rate of VAT went back to normal, we had to add that back onto prices where we’d been able to pass the reduction to customers during Covid. “We are now going to have to make some increases again soon.
It will be on selected items, but it will be across different areas, so there might be 5p or 10p increases on some products.” READ MORE: Greggs launches new school breakfast clubs where pupils can eat for free Like other companies, Greggs has been hit with rising costs from energy to meat and Russia’s war in Ukraine, a big producer of sunflower oil, has forced it to source alternatives.
Read more on manchestereveningnews.co.uk
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