BICS weighted Scotland estimates: data to wave 130

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 April 2025 (Wave 130) businesses were asked about prices in the month of March 2025. Prior to Wave 55 (19 April to 1 May 2022), ‘Currently Trading’ businesses were asked how prices compare to normal price fluctuations.

Figure 2: For an estimated 37.2% of businesses, the prices of materials, goods or services bought in March 2025 had increased compared with February 2025. 22.2% of businesses increased the prices of goods or services they sold in March 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 130.

Source: BICS weighted Scotland estimates - data to Wave 130 from the Scottish Government. For Figure 2 data see tables ‘PricesBoughtChange’ and ‘PricesSoldChange’.

At an estimated 37.2%, the percentage of businesses seeing an increase in prices of materials, goods and services bought is the highest since May 2023 (when it was 37.3%). The percentage that increased prices sold, an estimated 22.2%, is at its highest since April 2023 (when it was 24.8%).

In April 2025, businesses were asked what their expectations were for the prices of goods or services sold in May 2025. An estimated 40.3% of businesses were expecting to increase prices in May 2025, broadly stable with the 38.0% that expected to increase prices in April 2025, but up from the 24.2% that expected to increase prices in March 2025.

Figure 3: Labour costs was the top factor reported by businesses for considering price increases (56.3%), followed by energy prices (26.7%) and raw material prices (24.4%).

Estimated share of businesses by factors causing business to consider raising prices in May 2025. Businesses not permanently stopped trading, with 10+ employees and a presence in Scotland. Wave 130.

Source: BICS weighted Scotland estimates - data to Wave 130 from the Scottish Government. For Figure 3 data see table ‘PriceFactors’.