London dinner prices are rising at the fastest rate ever recorded

Thankfully restaurants haven’t been affected too much

Updated on 01 November 2019 • Written By Aneesa Anwar

London dinner prices are rising at the fastest rate ever recorded

Research has revealed that the average price of dinner for one person in London has risen by 6.3% to £59.28 in the last 12 months compared to £55.76 last year.

According to figures it is the biggest spike recorded in the last 20 years if the 20% VAT change from 2011-2012 is removed from figures.

This may come as no surprise to diners in the capital as it was discovered that the average price of a meal at a Michelin starred restaurant is a whopping £179 per person with very few coming in under the £100 mark.

Despite figures rising, Harden's Restaurant in London Guide, who carried out the research, found that the restaurant sector didn’t seem to be suffering from the price increase too much. Restaurant openings are up 28% on the previous year, with 174 openings being recorded compared to just 110 closures, mostly in central London.

Speaking to The Caterer, founder of the guide Peter Harden said: “(when it comes to) the London restaurant scene, any site that is not performing at its peak will quickly be reformatted under the same brand or a new one.

“The good news is that London’s restaurateurs are a much more formidable bunch than when this guide was first published. The last three decades have seen an incredible rise in the professionalism of the trade. Opportunities continue to present themselves to those with witty new formats or sufficient passion to excel at the old ones."

Despite opening figures remaining higher than closing ones which are up from last year, the figures are still down compared to 2017 (200) and 2018 (193).

Restaurant closures were down by just seven from last year but increased significantly from previous years with 76 closing in 2017 and 84 in 2018.

These increases may seem like a lot, however if you take into account UK wage growth and rises in the cost of food, these changes in restaurant prices are to be expected.

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