Business Insights and Conditions in Scotland (wave 152): 26 March 2026

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 March 2026 (Wave 152) businesses were asked about prices in the month of February 2026. Prior to Wave 55 (19 April to 1 May 2022), ‘Currently Trading’ businesses were asked how prices compare to normal price fluctuations.

Figure 2: 24.2% of businesses saw an increase in the prices of goods or services bought in February 2026 compared with January 2026, and 9.9% increased the prices of goods and services they sold.

Estimated share of businesses experiencing increased prices (of goods or services bought or of goods or services sold). Businesses not permanently stopped trading, with 10+ employees and a presence in Scotland. Applicable waves 52 (7 March to 20 March 2022) to 152 (2 March to 15 March 2026).

Source: BICS weighted Scotland estimates - data to Wave 152 from the Scottish Government. For Figure 2 data see tables ‘PricesBoughtChange’ and ‘PricesSoldChange’ for data from Wave 55 onwards, and tables ‘PricesBought’ and ‘PricesSold’ for data prior to Wave 55.

In March 2026, businesses were asked what their expectations were for the prices of goods or services sold in April 2026. An estimated 30.5% of businesses were expecting to increase prices in April 2026; higher than the share expecting to increase prices in March 2026 (18.3%), but lower than the proportion that were expecting to increase prices in April 2025 (38.0%).

Figure 3: Labour costs was the top factor reported by businesses for considering price increases (45.3%).

Estimated share of businesses by factors causing business to consider raising prices in April 2026. Businesses not permanently stopped trading, with 10+ employees and a presence in Scotland. Wave 152 (2 March to 15 March 2026).

Source: BICS weighted Scotland estimates - data to Wave 152 from the Scottish Government. For Figure 3 data see table ‘PriceFactors’.