BICS weighted Scotland estimates: data to wave 128

Prices

The BICS asks businesses that have not permanently stopped trading (i.e. ‘Currently Trading’ or ‘Paused Trading’) about how the prices of materials, goods and services bought and sold compare with the previous calendar month. Note that in Wave 128 businesses were asked about prices in the month of February 2025. Prior to Wave 55, ‘Currently Trading’ businesses were asked how prices compare to normal price fluctuations.

Figure 2: For an estimated 28.4% of businesses, the prices of materials, goods or services bought in February 2025 had increased compared with January 2025. 15.5% of businesses increased the prices of goods or services they sold in February 2025.

Estimated share of businesses experiencing increased prices. Businesses not permanently stopped trading - with 10+ employees and a presence in Scotland. Applicable waves 18 to 128.

Source: BICS weighted Scotland estimates - data to Wave 128 from the Scottish Government. For Figure 2 data see tables ‘PricesBoughtChange’ and ‘PricesSoldChange’.

In March 2025, businesses were asked what their expectations were for the prices of goods or services sold in April 2025. An estimated 38.0% of businesses were expecting to increase prices in April 2025, up from 24.2% in the previous month.

Figure 3: The top three factors reported by businesses for considering price increases were labour costs (56.4%), energy prices (25.6%) and raw material prices (23.0%).

Estimated share of businesses by factors causing business to consider raising prices in April 2025. Businesses not permanently stopped trading, with 10+ employees and a presence in Scotland. Wave 128.

Source: BICS weighted Scotland estimates - data to Wave 128 from the Scottish Government. For Figure 3 data see table ‘PriceFactors’.