Fast food chain Greggs has warned of increasing costs and said customers should expect further price rises as a result. In an update to shareholders the company said costs had been increasing across the market.
Roger Whiteside, who will step down as Greggs’ chief executive on Tuesday, said the business is in the process of working out its latest potential price increases due to cost inflation. “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,” he said.
“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.”
