BICS weighted Scotland estimates: data to wave 126

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 126 businesses were asked about prices in the month of January 2025. Prior to Wave 55, ‘Currently Trading’ businesses were asked how prices compare to normal price fluctuations.

Figure 3: For an estimated 26.4% of businesses, the prices of materials, goods or services bought in January 2025 had increased compared with December 2024; up from 18.5% in the previous month and the highest proportion since April 2024. 14.9% of businesses increased the prices of goods or services they sold in January 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 126.

Source: BICS weighted Scotland estimates - data to Wave 126 from the Scottish Government. For Figure 3 data see tables ‘PricesBoughtChange’ and ‘PricesSoldChange’.

In February 2025, businesses were asked what their expectations were for the prices of goods or services sold in March 2025, and the factors causing the businesses to consider raising prices.

An estimated 24.2% of businesses were expecting to increase prices in March 2025. The top three factors reported by businesses for considering price increases were labour costs (44.1%), raw material prices (20.9%) and energy prices (20.5%).

For the data on price expectations and factors, see tables ‘PricesExpect’ and ‘PriceFactors’ in the BICS weighted Scotland estimates - data to Wave 126 Excel workbook.