London restaurant prices are rising at the lowest rate in more than a decade as the number of venues increases and restaurateurs get smarter about holding onto customers, according to “Harden’s London Restaurants.”
The average bill for dinner for one in the 12 months to July 31 rose 2.5 percent from a year earlier to 41.75 pounds ($65.31), according to the dining guide. The year-earlier comparison was based on a lower rate of value added tax, cutting the effective increase to just 0.3 percent, Harden’s said.
The number of restaurant openings accelerated to 140 from 121 a year, while closures rose to 72 from 64. The guide’s authors said the resilience of the industry reflected more flexibility by restaurateurs as well as low interest rates.