Greggs has raised prices for the second time this year and warned of further increases, despite attempts by the bakery chain to mitigate the impact of inflation on customers (The Financial Times £). The price of a Greggs sausage roll has gone up 5p to £1.10 and could rise further still, the chain warned yesterday (The Times £). Prices of sausage rolls and steak bakes at Greggs are set to soar, the High Street bakery chain has warned (The Daily Mail). Greggs customers could face further price rises after the bakery chain warned that its costs would rise by 9% this year – four percentage points more than predicted at the start of 2022 (The Guardian).

Greggs has seen sales jump by 27.1% in the first half of the year as customers turn to cheaper meals during the cost of living crisis. (Sky News)

If sales remain on track, Greggs could regain its former glories, writes The Times’ share column. It advises investors to buy the chain, noting: “A discounted valuation leaves room for the shares to recover over medium-term”. (The Times £)

The “big four” supermarkets and several other retailers are failing to reduce petrol prices in line with falling wholesale costs, the RAC has warned. The roadside recovery firm said the wholesale cost of petrol has fallen by 20p since early June. (Sky News)

Wage rises in the US and Covid-19 restrictions in China will weigh on Starbucks’ profit margins, Howard Schultz told investors on Tuesday, but he said the coffee chain was observing no sign of customers cutting spending. (The Financial Times £)

Domino’s Pizza Group is gearing up for a marketing splurge as it battles rising energy and food prices and the cost of living crisis. (The Times £)

Morrisons has launched a line of “carbon neutral eggs” from hens fed on insects reared on the company’s own food waste. The supermarket chain said it is the first to launch such a line of eggs, which are the first product to be sold as part of the company’s drive to be directly supplied by zero emission British farms by 2020. (Sky News)

Fierce heatwaves and a lack of rain in Spain threaten to reduce olive oil production from the world’s top exporter, the country’s agriculture minister has warned. (The Guardian)

China has blocked imports from hundreds of Taiwanese food producers and temporarily suspended exports of natural sand to the country in what Taipei perceives as the opening shot in a campaign to punish it economically for a visit by US House Speaker Nancy Pelosi. (The Financial Times £)

Lindt & Sprüngli offered a sweet treat during the pandemic. Chocolates were an affordable luxury for consumers stuck at home. The Swiss chocolate maker’s shares rose strongly in 2021, hitting a sugar high at the start of this year. The subsequent correction, which has left the shares a tenth lower than at the start of the year, may have been overdone. (The Financial Times £)

Pour one out for Australia’s beer drinkers as the price of a pint at the pub surges up to $15 (£8.60/US$10.50) following the largest tax hike in more than three decades. (The Guardian)

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