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Pint of beer tops £9 in London’s West End

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The cost of a pint of beer has reached an eye-watering £9 at a bar in London’s West End.

This surge in prices reflects a larger trend where the average cost of a pint has doubled over the past 15 years.

Industry tracker CGA’s Paul Bolton noted that these high prices aren’t limited to super-strong or exotic craft beers; they are the standard rates for draught pints. The most affordable pint, found in a survey of 90,000 drinking establishments, was priced at £1.85 in Hyde, Greater Manchester.

The UK’s average pint price has steadily risen over the years, hitting £4.30, compared to £2.30 in 2008. Had pint prices kept pace with inflation for consumer goods, the cost would be around £3.55.

CGA regularly monitors prices at hospitality venues across the UK, and this latest survey covers data from the 12 weeks leading up to August 5.

The significant price hikes have been attributed to increased costs for brewers, particularly due to rising energy and grain expenses following the commencement of the Ukraine war.

Research also indicates that only one in ten people believe a visit to the pub with friends is affordable. Nik Antona, from the Campaign for Real Ale, has called for the government to reduce the “huge burden” on brewers and pubs in response to these escalating costs.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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