I can't see many companies taking on the increase in the long term, there are so many companies out there struggling to keep afloat that they just can't afford to write off that kind of money, the likes of tesco can but the smaller businesses won't be able to. For instance the place I get my cake supplies from have already announced their increased prices, which means I'll have to put my prices up.
fule is going to rise by approx 3p a litre, because you also have the fuel duty increase kicking in. In the papers today they are estimating that families are going to be £389 a year worse off, which I know isn't loads, but then when you look that some are going to lose their child benefit completely and their tax credits it will mean for some families that they will have to look at already tight budgets