Irn-Bru maker raises prices due to increasing inflation
AG Barr, the maker of Irn-Bru, says it has increased its prices due to soaring inflation.
“We have initiated several cost control actions to reduce the impact of these rising costs and have adjusted our pricing with customers where appropriate,” AG Barr said in a statement.
The company, which also makes the Rubicon and Sun Exotic brands of fruit drinks, said it would seek opportunities to offset the impact of inflation on its business.
Cost pressures for British consumers look likely to intensify over the next few months, although some business surveys show tentative signs that input cost pressures for companies may have peaked.
British grocery inflation rose to 3.8% in the four weeks to January 23, with the prices of savoury snacks, crisps and beef rising the most, market researcher Kantar said, underlining the growing cost-of-living squeeze facing many households.
The headline gauge of annual consumer price inflation hit 5.4% in December and the Bank of England thinks it will peak at around 6% in April.