The price of a pint exceeds £8 for the first time Business

The price of a pint has risen above £8 for the first time, with the average cost of a drink jumping more than 70% since the 2008 financial crisis.

Soaring inflation has pushed the average price of a pint of beer in the UK to £3.95, according to data from research agency CGA, from £2.30 in 2008.

Data from CGA, which tracks prices by frequently surveying more than 5,550 random bars and pubs, also showed that, for the first time, the average price of a pint in a London pub has exceeded £8.

The average beer in the London pub, which CGA did not name, costs £8.06, while the cheapest average pint was found in a Lancashire pub and costs £1.79.

It comes as the UK economy faces soaring prices across the board, with Bank of England Governor Andrew Bailey warning that inflation will hit its highest level in four decades this year.

The war in Ukraine put particular pressure on the cost of barley which is one of the key ingredients in beer.

Ukraine was the world’s fourth-largest barley producer before Vladimir Putin’s invasion, accounting for almost a fifth of the global export market last year.

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This notice was published: 2022-06-03 15:59:11

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