London restaurant bill prices have risen by 6.3% in the past 12 months, compared with 4.8% the previous year, according to new figures from London-based publishing firm Harden’s.
According to the group, the average price of dinner for one at establishments listed in its 2020 London Restaurants guide is £59.28, compared with £55.76 last year.
With the exception of 2011-2012, when the rate of increase was affected by a change in the VAT rate, this is the highest rate of increase in the last 20 years.
The group said the rise compares with a general annual inflation rate of 2.1% for the 12 months to July 2019, yet further accelerating the trend seen in the last three years by which London restaurant bills have seen price rises running significantly higher than UK inflation generally.
Harden’s said: “Restaurants are a people-heavy business, though, and with UK wage growth having picked up to 4%; and with high rises in food costs noted in the last year, an above-inflation rise in restaurant bills is to be expected.”
Source: Catering Today