Greggs has warned that the cost of its famous sausage rolls could increase amid volatile prices caused by the Russian invasion of Ukraine.
Customers were up in arms earlier this year when the bakery chain added a reported 5p to the price of its staple menu item due to rising ingredients, energy and labour costs.
But prices could go up further as the conflict continues to impact the supply chain, which could hit the company’s bottom line, reports The Mirror.
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Greggs revealed that it faces an increase of up to seven percent in running the business, which is only set to surge further as Russia and Ukraine are major exporters of ingredients such as wheat, maize, barley and various cooking oils.
A spokesperson for the company said in a statement that surging costs have ‘necessitated some price increases, which were made at the start of this year, and further changes are expected to be necessary’.
They added: “As ever, we will work to mitigate the impact of this on customers, protecting Greggs’ reputation for exceptional value in the freshly-prepared food-to-go market.
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“Given this dynamic, we do not currently expect material profit progression in the year ahead.”
Greggs’ chief executive officer, Roger Whiteside, has said they have no plans to change prices right now, but the company will need to assess as the market changes.
“We’ve got no plans to raise prices currently, but obviously that’s going to have to remain under review given the way the markets are moving around the world on commodity food prices in particular,” he explained.
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“If the market allows price increases to move onto customers, then we will have to attempt to do that, if it doesn’t then we won’t be able to.
“You’re trying to position price to make sure you maximise sales.”
When news that the iconic sausage rolls went from £1 to £1.05 broke in January, fans were quick to share their disdain online.
One fan tweeted: "Greggs sausage rolls going up by 5p is shameful. I’m boycotting, well, at least until Friday."
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Another wrote: "Not forgetting the national tragedy of Greggs’ sausage rolls going up by 5p."
Whether the menu at Greggs will go up again is yet to be seen, but while loyal customers were annoyed about the revelation earlier this year, right now the cost of a sausage roll is the least of the world’s concern.
Topics: Greggs, Food And Drink
Daisy Phillipson