We have all experienced unprecedented global inflation, and fully appreciate that you face the same pressures across many aspects of your business. Whilst no single index accurately represents our industry, you may be interested to see a detailed view of further key cost developments affecting many UK businesses:
- Labour costs: + 6.0% (Average total pay, inc. bonuses July 2022 - Sep 2022)
- Producer prices: +14.8% (Oct 2021 to Oct 2022 )
- Consumer prices: +11.1% (Oct 2021 to Oct 2022)
On 18th January 2023, the ONS released December's CPI of 10.5% and like most suppliers within the industry, our terms and conditions (https://www.tariffaudit.com/business-terms-and-conditions/) allow for an additional 3.9%, resulting in a price increase of 14.4%. After due consideration and a review of longer-term inflationary trends, we have decided to use the 6-month average for CPI at this time and apply a price increase of 10.4% + 3.9%, thus only apply a 14.3% increase with effect from 1st April 2023. For example, if your current cost is £40 a month it would increase by 14.3% to £45.72. Some products and services are excluded from the price increase.
We appreciate price increases are never welcome, but you have our commitment to provide you with the broadest choice of products underpinned by the best possible service. Due to this being confirmed in the terms and conditions, this would not invalidate your contract from our side, and would therefore mean if the contract is terminated early, you will be charged an early termination fee in accordance with our terms and conditions, which can be found on our website at https://www.tariffaudit.com/business-terms-and-conditions/. If you would like to discuss some options which would help reduce your bills, please call us on 0121-296 0410 or email email@example.com