Business

Almost half of businesses hit with price increases

Meanwhile, 29% of businesses currently trading expect to increase the prices of goods or services sold in June 2022, with energy prices being the main factor for businesses considering doing so

Approximately half (48%) of businesses currently trading have reported that the prices of materials, goods, or services bought in April 2022 had increased from March 2022, while 23% reported that prices sold had increased across the same period.

According to the Office for National Statistics (ONS), the wholesale and retail trade, as well as the repair of motor vehicles and motorcycles industry, faced the largest rise in businesses reporting a decrease in turnover which reached 35%, up from 28% in March 2022.

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