Greggs issues important update to fans worried about the price of sausage rolls

Greggs has said that its costs are easing more than expected, ruling out any price rises for the rest of the year - and fans of the sausage roll chain will be pleased with more good news

Greggs, the popular sausage roll chain, has confirmed that it will not be increasing prices further this year. The high street giant disclosed that its costs were decreasing more than anticipated.

Previous cost hikes had led Greggs to raise prices for customers, contributing to a 5% increase in revenue over the past three months. However, Roisin Currie, the company's boss, stated: "We have got no plans to put up prices for this year."

She suggested that any future price increases could be influenced by potential rises in the statutory minimum wage next year. Despite previously stating there were no plans for price hikes, Greggs increased the cost of some items in July, including adding 5p to the price of a sausage roll. Although higher prices have benefited Greggs, sales slowed during the summer period.

Ms Currie attributed the slowdown in July and August to a "mix of reasons", while other retailers have blamed poor weather conditions. She also highlighted the impact of riots in certain towns and cities, which affected a small number of Greggs stores, reports the Mirror.

Shares in Greggs, which has a stock market value of £3.2 billion, experienced a sharp drop in early trading following the announcement. However, Ms Currie noted that trading improved significantly last month, coinciding with the launch of Greggs' autumn menu.

This includes a pumpkin spice latte and salted caramel latte in its seasonal drinks range, as well as a new pumpkin spice doughnut. Ms Currie noted that consumers are still "think carefully" about their spending, especially after a period of uncertainty leading up to the general election. Meanwhile, Greggs is set to open between 140 and 160 new shops this year.

As of the end of September, Greggs boasted close to 2,560 stores, with an ambitious goal to reach 3,500 in the long term.