Pubs, bars and restaurants see bills surge 81%

Pubs, bars and restaurants have seen their bills soar by 81pc over the past year according to new figures. 

Surging energy prices as well as more expensive food and wage costs are behind the increase according to research by NielsenIQ on behalf of a group of industry bodies. 

Just 29pc of hospitality businesses said they are feeling optimistic about the next 12 months, with energy costs being a main driver for concerns. 

With gas prices soaring following Russia’s invasion of Ukraine, many firms have been locked into paying bills significantly above market rates after signing long-term fixed-rate contracts last year. 

This has weighed down on profitability and led to thousands of closures across high streets. 

The British Institute of Innkeeping, UKHospitality, the British Beer and Pub Association and Hospitality Ulster – which commissioned the research – called for the Government to step up efforts to ensure more firms are not forced to shut up shop.

It comes after the Government ended its energy bill relief scheme, which provided a discount on wholesale gas and electricity prices for pubs and restaurants.